Sen. Bernie Sanders (I-Vt.) called on pharmaceutical manufacturer Novo Nordisk to slash prices for two of its drugs Wednesday, citing a new study on the costs to manufacture the medications.
The research found that a weekly injection of semaglutide — which is the generic name for Ozempic — can be manufactured at a cost between $0.89 and $4.73 per month.
“Today, a new Yale study found that Ozempic costs less than $5 a month to manufacture. And yet, Novo Nordisk charges Americans nearly $1,000 a month for this drug, while the same exact product can be purchased for just $155 a month in Canada and just $59 in Germany,” Sanders said in a statement.
The monthly price for Ozempic is $935, according to Novo Nordisk’s website. The manufacturer’s weight loss drug, Wegovy, is also a semaglutide injection. Its list price is about $1,349 per month.
“As Chairman of the Senate Committee on Health, Education, Labor, and Pensions (HELP), I am calling on Novo Nordisk to lower the list price of Ozempic — and the related drug Wegovy — in America to no more than what they charge for this drug in Canada,” Sanders said in the statement. “The American people are sick and tired of paying, by far, the highest prices in the world for prescription drugs while the pharmaceutical industry enjoys huge profits.”
Novo Nordisk’s website noted the list price is the cost before insurance, discounts or rebates are applied. An analysis from the American Enterprise Institute last year found that most people do not pay the full listed price for the drugs.
The new study looked at the cost to manufacture insulin and how this price compared to that of diabetes treatments like Ozempic and similar drugs. Researchers at Yale University, King’s College Hospital in London and Doctors Without Borders conducted the analysis, which was published in the JAMA Network journal Wednesday.
In the study, researchers concluded their findings show companies could lower the costs of these diabetes treatments to make them more accessible globally.
“High prices limit access to newer diabetes medicines in many countries. The findings of this study suggest that robust generic and biosimilar competition could reduce prices to more affordable levels and enable expansion of diabetes treatment globally,” the researchers wrote.
The Hill has reached out to Novo Nordisk for comment.
