Novo Nordisk CEO To Face Senate Scrutiny Over High Ozempic And Wegovy Prices, Hearing Scheduled On Tuesday
Portfolio Pulse from Vandana Singh
Novo Nordisk's CEO, Lars Fruergaard Jørgensen, will face the U.S. Senate Committee on Health, Education, Labor, and Pensions regarding the high prices of Ozempic and Wegovy. The hearing, led by Senator Bernie Sanders, will scrutinize the company's pricing strategy, which is significantly higher in the U.S. compared to other countries. Novo Nordisk is expected to defend its pricing by citing insurance coverage and development costs, despite criticism and potential inclusion in Medicare's negotiated drug prices.
September 23, 2024 | 5:11 pm
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Novo Nordisk's CEO will be questioned by the U.S. Senate over high drug prices for Ozempic and Wegovy. The scrutiny could impact the company's stock, which is already down 3.10%. The hearing may lead to increased regulatory pressure and potential price negotiations.
The Senate hearing led by Bernie Sanders is a significant event that could lead to increased regulatory scrutiny and pressure on Novo Nordisk to lower its drug prices. The company's stock is already down, indicating market concern. The potential for Medicare price negotiations adds to the uncertainty.
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