Novo Nordisk Shares Drop 1.1% Premarket Amid U.S. Senate Probe into GLP-1 Drug Pricing

Gelonghui April 25 | Novo Nordisk (NVO.US) dropped 1.1% in pre-market trading to $124.74. On the news front, Bernie Sanders, Chairman of the U.S. Senate Committee on Health, Education, Labor, and Pensions, stated on Wednesday that the committee is investigating the pricing practices of Novo Nordisk. In a letter sent on Wednesday to Novo Nordisk's CEO, Sanders requested internal communications regarding "the pricing of the drug in the U.S." and an explanation for why Wegovy, which contains the same active ingredient as Ozempic (both are semaglutide), is priced significantly higher. Sanders emphasized that the price of GLP-1 drugs "must be reduced" to ensure affordability for consumers while preventing the government from going bankrupt due to reimbursement costs.