Bernie Sanders: 'Ozempic Will Likely Become One Of The Best-Selling Pharmaceutical Products In History' — Americans Shouldn't Pay 10-15X More

Author: Benzinga Neuro | June 26, 2024 09:14pm

In a recent tweet, Bernie Sanders (I-Vt.) criticized the pricing of a popular diabetes drug, Ozempic, and its manufacturer, Novo Nordisk A/S (NYSE:NVO).

What Happened: Sanders took to X, formerly Twitter, on Wednesday to express his concerns about the pricing of Ozempic. He suggested that the drug’s manufacturer, Novo Nordisk, will make billions of dollars from U.S. consumers annually, charging them 10-15 times more than people in other countries.

Ozempic will likely become one of the best-selling pharmaceutical products in history.

Its manufacturer, Novo Nordisk, will make billions of dollars from U.S. consumers every year.

Americans should not be charged 10-15x more for this drug than people in other countries. https://t.co/Ao3hu8Fllb

— Bernie Sanders (@SenSanders) June 26, 2024

“Ozempic will likely become one of the best-selling pharmaceutical products in history. Its manufacturer, Novo Nordisk, will make billions of dollars from U.S. consumers every year. Americans should not be charged 10-15x more for this drug than people in other countries,” Sanders said.

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Why It Matters: This isn’t the first time Sanders has taken a stand against the high cost of Ozempic. In March, he criticized the “outrageous” prices of the drug and considered holding hearings on the issue. Sanders, who chairs the Senate Health, Education, Labor, and Pensions (HELP) Committee, expressed concerns about the high cost of Ozempic, which is sometimes used controversially for weight loss by suppressing appetite.

Novo Nordisk CEO, Lars Fruergaard Jørgensen, agreed to testify before the Senate after Sanders threatened to subpoena the company over its pricing of Ozempic and the obesity drug Wegovy. This agreement followed a public dispute over scheduling a hearing, with Sanders’ team claiming Novo was uncooperative, while the company said it was willing to testify.

Price Action: On Wednesday, Novo Nordisk shares closed 2.2% lower at $143.67 in the regular session, according to Benzinga Pro data.

Photo by Joseph Sohm on Shutterstock

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This story was generated using Benzinga Neuro and edited by Shivdeep Dhaliwal

Posted In: NVO