Novo Nordisk CEO Confirms Ozempic Eligible for U.S. Price Negotiation Within a Year

Gelonghui September 24 | Lars Fruergaard Jorgensen, CEO of Danish pharmaceutical company Novo Nordisk, said in a written testimony on Monday that according to current standards, the company's blockbuster diabetes drug Ozempic will qualify for U.S. government price negotiations in less than a year. The relevant list will be announced in February next year. Jorgensen will testify at a Senate committee hearing on Tuesday, which will focus on the pricing of the best-selling Ozempic and weight-loss drug Wegovy in the United States. According to Novo Nordisk’s website, the price of Ozempic in the U.S. is $935.77 per month, while Wegovy costs $1,349.02 per month, although most consumers pay less through insurance plans. In his written testimony, Jorgensen stated that the net price of Ozempic (the actual revenue received by Novo Nordisk) has dropped by about 40% since its launch in the U.S., and the net price of Wegovy has also declined since its market entry less than three years ago. He added that under current market conditions, the net prices of both drugs are expected to continue falling.