Bernie Sanders Slams Novo Nordisk CEO over Ozempic pricing

Chairman Sanders’ Opening Statement

The Senate Committee on Health, Education, Labor and Pensions convened on Tuesday, September 24th, to hear testimony from Lars Fruergaard Jørgensen, the CEO of Novo Nordisk, regarding the exorbitant prices of its diabetes medications, Ozempic and Wegovy. In his opening remarks, Chairman Bernie Sanders (I-Vt.) unequivocally implored Jørgensen to cease exploiting American consumers.

Senator Sanders’ Indictment of Novo Nordisk

Senator Sanders presented irrefutable evidence demonstrating that the cost of Ozempic and Wegovy in the United States is astronomically higher than in other developed nations. “In some countries, the price of Ozempic is as much as 15 times lower than it is in our country,” exclaimed Sanders. “This is unacceptable. Novo Nordisk is ripping off the American people.”

Jørgensen’s Defense

In response to the barrage of accusations, Lars Fruergaard Jørgensen attempted to justify Novo Nordisk’s pricing strategy. He argued that the company’s drugs provide significant value to patients and that the high costs are necessary to recoup research and development expenses. Jørgensen emphasized, “We believe our pricing is fair and reflects the value that our medicines bring to patients and society.”

Senator Sanders’ Rebuttal

Chairman Sanders vehemently contested Jørgensen’s assertions, emphasizing that Novo Nordisk’s immense profits, coupled with the fact that Ozempic and Wegovy are not revolutionary drugs but rather incremental advancements in diabetes treatment, rendered the company’s pricing exorbitant. “Your profits are outrageous, and you are taking advantage of sick people,” declared Sanders.

The Role of Insulin Costs

The Senate hearing also delved into the skyrocketing costs of insulin, a life-saving medication for diabetics. Sanders pointed out that, for some, the cost of insulin has increased by as much as 1,000% in recent years, rendering it unaffordable for many who rely on it. “It is unconscionable that people are forced to ration their insulin or go without it altogether,” said Sanders.

Novo Nordisk’s Commitment to Affordability

Novo Nordisk acknowledged the concerns raised about the cost of insulin and outlined its efforts to improve affordability. Jørgensen announced that the company plans to launch a low-cost version of insulin in the United States next year and will continue to explore other options to make its products more accessible.

Public Outrage and Congressional Action

The public outrage over the high costs of diabetes medication has reached a fever pitch. Patients and advocates have rallied together to demand action from both pharmaceutical companies and the government. The Senate hearing served as a platform for these voices to be heard and a catalyst for potential legislative solutions.

The Path Forward

The Senate Committee on Health, Education, Labor and Pensions will continue to investigate the high costs of diabetes medication and explore ways to address this pressing issue. Chairman Sanders vowed to hold Novo Nordisk and other drug manufacturers accountable and to work towards a healthcare system that is affordable for all Americans.