When one year’s sales matches a full three decade research budget,
#price #gouging is clearly afoot.

And that’s the case for Novo Nordisk A/S,
-- maker of sister GLP-1 drugs #Ozempic (type 2 diabetes, T2D)
and #Wegovy (obesity).

In September, Bloomberg estimated that the two drugs would bring in $65 billion in sales by the end of 2024.

The entire research budget for the past three decades is $68 billion, with the company stating that its R&D budget for 2023 was only $5 billion or about 7% of sales in 2024.

News reports note that Novo Nordisk charges US patients about $1,000 per month for Ozempic
and almost $1,400 for Wegovy.

Currently, insurance provides coverage when described for T2D but not obesity.

Given that obesity is a risk factor for T2D, this decision seems shortsighted; but that’s for another day.

In its home country of Denmark, Novo Nordisk reduced the price for Ozempic under governmental pressure by a third.

It’s now costs the government $130 a month in Denmark for patients with T2D.

Wegovy is not covered by the state health care plane and would cost Denmark patients $365 out of pocket per month.

Ozempic price in Germany? -- $92 a month.

💥That’s 10-fold price premium for Ozempic in the US when compared with Germany.

👉Yet researchers estimate that Ozempic could be produced for $5 a month, or less, including a profit margin.

⚠️This is an oligopolistic market, and as such it should be regulated.

Three firms — Novo Nordisk, Eli Lilly, and Sanofi — “control more than more than 90% of the global insulin market.”

These GLP-1 drugs fall into the insulin market due to their impact on diabetes;

many patients are able to reduce or stop insulin when taking Ozempic
themoderatevoice.com/past-time…