Novo Nordisk Must Cut Prices of Weight-Loss Drug, Biden Says
THOMSON REUTERS2024-07-02
U.S. President Joe Biden and Senator Bernie Sanders called on Novo Nordisk to cut prices of its Ozempic and Wegovy drugs for weight loss and diabetes, in an editorial published in USA Today on Tuesday.
Novo Nordisk shares turn 2% lower in U.S. premarket trading.
Shares of rival Eli Lilly fell 1.9% in U.S. premarket trading.
Biden and Sanders also said Eli Lilly was charging high prices for its own obesity drug Mounjaro. "If the prices of these drugs are not substantially reduced, they have the potential to bankrupt the American health care system," they said.
In April, Sanders sent a letter to Novo President Doug Langa seeking more information on U.S. prices for the two drugs.
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