Bernie Sanders Slams 'Outrageous' Prices Of Miracle Weight Loss Drug Ozempic, Mulls Meeting With Novo Nordisk CEO
Portfolio Pulse from Rounak Jain
Sen. Bernie Sanders criticized the high prices of the diabetes drug Ozempic, produced by Novo Nordisk (NYSE:NVO), and is considering hearings and a meeting with the company's CEO to discuss price reductions. Sanders highlighted the disparity between the drug's production cost, less than $5 a month, and its selling price, nearly $1,000 a month in the U.S. Novo Nordisk defended its pricing, citing significant investments in research and development.
March 30, 2024 | 8:19 am
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Sen. Bernie Sanders criticized Novo Nordisk's pricing of Ozempic, considering hearings and a meeting with the CEO to discuss price reductions.
Sanders' criticism and potential hearings could lead to negative public perception and regulatory scrutiny for Novo Nordisk, potentially affecting its stock price in the short term. The focus on Ozempic's high price, contrasted with its low production cost, may increase pressure on the company to adjust its pricing strategy, impacting revenue.
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