Senator Sanders Secures Major Pharmaceutical Commitments to Lower Drug Prices

U.S. Senator Bernie Sanders announced commitments from all major pharmacy benefit managers (PBMs) to expand coverage of Novo Nordisk's diabetes and weight-loss drugs, Ozempic and Wegovy, if the company reduces their list prices. This announcement was made during a Senate Committee hearing where Sanders criticized Novo Nordisk's CEO for high drug prices.

U.S. Senator Bernie Sanders revealed on Tuesday that he has received written commitments from all major pharmacy benefit managers (PBMs) to expand coverage for Novo Nordisk's popular diabetes and weight-loss medications, provided the company lowers their list prices. Sanders disclosed this during his opening remarks at a Senate Committee on Health, Education, Labor and Pensions (HELP) hearing, which he chairs.

"I am delighted to announce today that I have received commitments in writing from all of the major PBMs that if Novo Nordisk substantially reduced the list price for Ozempic and Wegovy, they would not limit coverage. In fact, all of them told me they would be able to expand coverage for these drugs if the list price was reduced," Sanders stated. This counters a common pharmaceutical argument that lower list prices lead to narrower coverage.

Sanders criticized Novo Nordisk CEO Lars Jorgensen, the sole witness at the hearing, over the high pricing of Ozempic and Wegovy, which can exceed $1,000 per month for American consumers. Sanders pointed out that these drugs are significantly cheaper in some European countries, while Jorgensen highlighted the high costs of diabetes and obesity to the U.S. economy.

(With inputs from agencies.)