Drugmaker to testify on why weight-loss drugs cost 15x more in the US

The CEO of Novo Nordisk, a Danish pharmaceutical company, will appear before a congressional committee to discuss the high prices of their weight-loss drugs. These drugs, like Wegovy and Ozempic, are significantly more expensive in the United States than in other countries. The pricing disparity has drawn criticism, particularly as these medications can be life-saving for individuals with obesity, which is considered a chronic disease by the medical community. The hearing aims to shed light on the pricing strategies employed by Novo Nordisk and explore whether they are justified. The company has stated that they are committed to providing affordable access to their medications, but critics argue that their current pricing model is unsustainable and hinders patient access. The hearing will likely examine the role of patents, research and development costs, and market dynamics in shaping the pricing of these drugs. It will also explore potential solutions to address the affordability challenges faced by patients.

Summary

"The congressional hearing aims to understand why weight-loss drugs cost significantly more in the US than elsewhere and explore potential solutions to address their affordability for patients."