Ozempic and Wegovy maker Novo Nordisk will finally testify to the Senate amid growing concerns about the price surge for weight-loss drugs in the US.
After some persuasion from Dem. Sen. Bernie Sanders, Novo Nordisk CEO Lars Jørgensen is set to appear before the Senate Committee in September for why weight-loss drugs cost 15 times more in the US than its neighboring countries.
Jørgensen's appearance came after Sanders, who also chairs the committee, canceled an earlier subpoena requiring Novo Nordisk to appear at a July 10 hearing.
Ozempic, Wegovy Cost 15 Times More in the US
The hearing follows Sanders's earlier inquiries on why Ozempic can be acquired for only $155 in Canada and $59 in Germany, while type 2 diabetes patients in the US needed to pay $969 per month in order to afford one.
The dedicated weight-loss drug Wegovy is even more expensive, going as high as $1,349 a month in comparison to its below-$150 prices in other countries.
A Yale University study even indicated that the drugs could be manufactured for less than $15, 60 times smaller than their current prices in the market.
All of these are on top of the dwindling supplies of Ozempic and other diabetic medications in the country, depriving thousands of Americans of access to necessary drugs.
Counterfeit Ozempic, Wegovy Drugs Surge Amid Price Hikes, Supply Issues
Amid nationwide supply shortages and price hikes for the official drugs, government agencies have recorded a surge in counterfeit Ozempic and Wegovy drugs.
Forbes first reported the rise in counterfeit weight-loss drugs earlier in November as Novo Nordisk reported its first year in supply shortage for Ozempic and Wegovy.
The shortage came amidst the surge in demand as influencers and personalities recommended the drugs as effective weight-loss medications.
Due to its potential health risks, federal agencies have already warned the public against consuming counterfeit drugs for prescribed medications like Ozempic.
