Bernie Sanders Targets Novo Nordisk's Weight-Loss Drug Prices

Senator Bernie Sanders is pushing Novo Nordisk to reduce the prices of its weight-loss drugs, Ozempic and Wegovy, in the U.S. Sanders' strategy includes publicly criticizing the drugmaker and leveraging a Senate Committee hearing. He aims to expand Medicare's drug price negotiations and set an annual out-of-pocket cost cap.

Senator Bernie Sanders on Wednesday expressed confidence that Novo Nordisk can be convinced to cut the U.S. prices of its popular Ozempic and Wegovy, used for weight loss, by publicly shaming the drugmaker over the high costs compared to prices in other countries.

Novo Nordisk CEO Lars Jorgensen is set to testify before the Senate Committee on Health, Education, Labor, and Pensions, chaired by Sanders, in a September hearing focused on U.S. prices for Ozempic and Wegovy. Sanders shared that he believes there's a real chance for change, noting President Biden's support for the effort.

The approach echoes Sanders' previous success, where public focus on pharmaceutical profits and accusations of price gouging led to price reductions for insulin by three major drugmakers. Sanders pointed out that high drug prices affect Americans disproportionately, with Novo Nordisk's weight-loss drugs priced much higher in the U.S. than in other countries.