Ozempic producer CEO in hot seat in Senate hearing over cost of weight loss drug

Senators grilled Novo Nordisk CEO Lars Jorgensen Tuesday at a hearing over the costs of Ozempic, Wegovy and similar weight loss drugs.

The drugs have risen in popularity for diabetic patients and others looking to combat obesity since they were approved, however, senators of the Health, Education, Labor, and Pensions Committee grilled the CEO. They argued the price of Ozempic, which costs as much as $900 a month, is too high for many patients. By comparison, Ozempic costs $155 monthly in Canada, according to the committee.

Sen. Bernie Sanders, I-Vt., the committee chair, said doctors have warned that these high prices have led to serious risks.

“What these doctors are telling us is if the price of Ozempic and Wegovy is not reduced, many of their patients who have diabetes and obesity, especially lower-income Americans often minority Americans, will not be able to afford these drugs,” he said. “Some of these patients will unnecessarily die, and others will suffer a significant decline in their quality of life.”

Jorgensen told the committee his health care company, which is headquartered in Denmark, has been ramping up production of its medications but also noted U.S. health care plans have created issues when it comes to offering patients lower prices.

“The complex U.S. health care system. It’s also clear that no single company alone can solve such complicated policy changes,” he said during Tuesday’s hearing. “So what I can promise is that we will remain engaged with this committee on policy solutions to address the structural issues that have patients and can also commit that they will never stop driving change to stop these chronic diseases like obesity.”