The CEO of Novo Nordisk, the company behind the popular weight loss and diabetes drugs Ozempic and Wegovy, recently defended the cost of the drugs during an interview.
Lars Fruergaard Jørgensen on NBC Nightly News emphasized the problem with obesity in America, and how the drug is actually saving the country money.
Jørgensen’s Comments
During the interview, Jørgensen took aim at the growing problem of American obesity, feeling drugs like Ozempic were critical in this fight.
“If you look at just the cost of obesity in the U.S., it’s a disease that costs Americans more than $400 billion a year,” Jørgensen said. “And we are actually providing products that’s actually helping take that cost burden off.”
Cost of Obesity
According to the National Institutes of Health, an analysis of scientific studies has shown that the direct medical costs for someone with obesity are 6 times greater than for someone who is just overweight.
An increase of a person going from class 1 obesity to class 3 obesity multiplies this cost of medical expenditures by three times.
Ozempic in the Hotseat
Jørgensen’s comments come just ahead of a scheduled hearing before lawmakers where he is expected to answer tough questions about the pricing of the company’s diabetes and weight loss drugs.
According to reports, Novo Nordisk charges 10 to 15 times more for Ozempic and Wegovy in the United States than it does in other countries.
Ripping off the American People
Vermont US Senator Bernie Sanders in June slammed the company after hearing the news that it was charging US customers so much more.
“This is absurd,” Sanders said in an interview. “It is clear that Novo Nordisk is ripping off the American people.”
Upcoming Hearing
Jørgensen agreed to be grilled by Sanders and others over drug prices in a hearing that is coming up in September.
Sanders has indicated that the first question he is going to ask is about the price of weight loss drugs being 10 to 15 times higher in the US.
No Exact Date
Despite the hearing being agreed upon by both parties, an exact date has not been set.
On Tuesday, Sanders indicated that it would likely be during the second week of September.
Outrageous Prices
In a June press release announcing the hearing, Sanders thanked Jørgensen for volunteering to testify, though he had been threatened with a subpoena if he didn’t.
“I enjoyed the opportunity of chatting with Mr. Jørgensen this afternoon and thank him for agreeing to voluntarily testify on a solo panel before the HELP Committee on the high cost of Ozempic and Wegovy in the United States,” said Sanders. “The scheduled subpoena vote is no longer necessary and will be canceled.”
Sick and Tired
Sanders expressed the frustration felt by many Americans who are getting terrible deals for many types of drugs.
“The American people are sick and tired of paying, by far, the highest prices in the world for prescription drugs. Novo Nordisk currently charges Americans with Type 2 diabetes $969 a month for Ozempic, while this same exact drug can be purchased for just $155 in Canada and just $59 in Germany,” said Sanders.
Charging for Obesity
In his comments attacking Novo Nordisk, Sanders framed the issue as punishing Americans for obesity with higher drug prices.
“Novo Nordisk also charges Americans with obesity $1,349 a month for Wegovy, while this same exact product can be purchased for just $140 in Germany and $92 in the United Kingdom,” Sanders said. “The Committee looks forward to Mr. Jørgensen explaining why Americans are paying up to ten or 15 times more for these medications than people in other countries.”
Public Pressure Campaign
In recent comments, Sanders outlined the motivation for pressing the company, hoping it would result in a lowering of prices.
“I think enough public pressure may result in them lowering their prices substantially, which is obviously what my goal is,” Sanders said. “This is a huge issue because it is likely that Ozempic and Wegovy may end up being the most lucrative product that the pharmaceutical industry has ever developed.”
Popularity of Ozempic
Weight loss drugs like Ozempic have become immensely popular in recent years and have been behind the transformations of many celebrities who have lost weight. In December, Oprah Winfrey revealed that she had been taking the drugs as a “maintenance tool.”
“The fact that there’s a medically approved prescription for managing weight and staying healthier, in my lifetime, feels like relief, like redemption, like a gift,” Winfrey told People.
