Monday, July 15, 2024

Novo Nordisk CEO to testify before Senate on Ozempic pricing

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Two packages of 5 dosing pens each of a fictitious Semiglutin drug used for weight loss (antidiabetic medication or anti-obesity medication) on a blue transparent background. Fictitious package design

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Norvo Nordisk (NVO) (OTCPK:NONOF) has avoided a subpoena for a congressional hearing over its pricing strategy for weight loss drugs, Ozempic and Wegovy, after the Danish pharma giant’s CEO agreed to testify before the Senate later this year.

Sen. Bernie Sanders (I-Vt.), the chairman of the Senate Committee on Health, Education, Labor, and Pensions (HELP), announced late Friday that Novo (NVO) CEO Lars Jørgensen will testify before the committee in early September.

“I enjoyed the opportunity of chatting with Mr. Jørgensen this afternoon and thank him for agreeing to voluntarily testify on a solo panel before the HELP Committee on the high cost of Ozempic and Wegovy in the United States,” Sanders said.

Early this week, Sanders announced that the HELP committee would vote on June 18 to decide whether to subpoena Novo’s (NVO) North American operations chief, Doug Langa, for a hearing over why the company charges higher prices for Ozempic and Wegovy in the U.S.

“The scheduled subpoena vote is no longer necessary and will be canceled,” Sanders said.

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