Novo CEO Blames Ozempic’s High Cost on Drug Middlemen’s Tactics

Novo Nordisk A/S Chief Executive Officer Lars Fruergaard Jorgensen will use a familiar argument to defend the US prices of blockbuster drugs Ozempic and Wegovy when he appears Tuesday before a congressional committee led by Senator Bernie Sanders: It’s the middlemen.

Novo retains only a fraction of its drugs’ list prices, with the rest paid to companies that manage pharmacy benefits for insurers and employers, according to Jorgensen’s written testimony that was viewed by Bloomberg ahead of a hearing in Washington. While patients may not see it at the pharmacy counter, the drugs’ prices have decreased, according to the ...