In this article NOVO.B-DK Follow your favorite stocks CREATE FREE ACCOUNT Lars Fruergaard Jørgensen, CEO of Novo Nordisk, speaks during an interview in New York on Aug. 10, 2022.
Christopher Goodney | Bloomberg | Getty Images Novo Nordisk 's top executive is slated to face a Senate grilling on Tuesday over the high prices of the company's weight loss drug Wegovy and diabetes treatment Ozempic , as demand for both injections soars in the U.S. Novo Nordisk CEO Lars Fruergaard Jørgensen will testify at a Senate Health, Education, Labor and Pensions Committee hearing at 10 a.
m. ET on Tuesday in Washington, D.C.
It comes roughly five months after Sen. Bernie Sanders, the Vermont independent who chairs the Senate panel, opened an investigation into the Danish drugmaker's pricing practices. Sanders contends that Novo Nordisk charges Americans substantially higher prices for its blockbuster drugs than it does for patients in other countries.
Before insurance, Ozempic costs nearly $969 per month and Wegovy costs almost $1,350 per month in the U.S. Meanwhile, both treatments can cost as little as under $100 for a month's supply in some European countries, according to a release from the committee .
Ozempic costs just $59 in Germany, while Wegovy costs $92 in the U.K. Sanders also said last week that the CEOs of major generic pharmaceutical companies have told him that they could sell a version of Ozempic for less than $100 a month at a profit.
There are currently no generic alternati.
