A bombshell report from Senator Bernie Sanders‘ office warns that the exorbitant price of Wegovy, a revolutionary weight-loss drug, could single-handedly bankrupt the US healthcare system unless drastic price cuts are implemented.
The report estimates that if prices remain unchanged, Americans may spend a staggering $1 trillion annually on prescription drugs, with Wegovy and similar weight-loss medications being a significant contributor to this astronomical figure.
The report intensifies pressure on Novo Nordisk, the Danish manufacturer, to substantially lower the price of Wegovy and its sister drug, Ozempic. Currently, Americans are charged significantly more than patients in other countries, with prices ranging from $969 to $1,349 per month, compared to $59 to $186 in other nations.
Wegovy’s High Price Tag Could Bankrupt US Health System
This disparity has prompted an investigation by the Senate Health Committee, which has requested net pricing data from the company. Estimates suggest that even after rebates, the net price per month could be around $809.
The report highlights the urgency of addressing obesity and diabetes, which affect nearly 42% and 11% of American adults, respectively. If half of those with obesity were to take Wegovy, the annual healthcare cost could reach $411 billion, surpassing total spending on all retail prescription drugs in 2022.
While some private insurance plans cover the drugs, many have restricted access or ended coverage due to the exorbitant costs.
Medicare, however, may soon cover Wegovy for certain patients following its approval by the FDA to reduce the risk of heart problems in overweight or obese individuals. Novo Nordisk has stated that it is reviewing the report and continues to cooperate with the investigation.
