Novo Nordisk’s CEO addressed the high cost of the company’s diabetes and weight loss medications, Ozempic and Wegovy, during a Senate committee hearing on Tuesday. The executive attributed the elevated prices to the actions of pharmacy benefit managers (PBMs), which has garnered mixed reactions from the committee members. While some Senators supported this explanation, others expressed frustration and demanded clearer answers regarding Novo Nordisk’s own role in pricing these drugs.
To read more, visit Law360’s detailed report on the hearing here.