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1 year ago•Source: Daily Mail
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2.09 min•1 year ago
"Study Reveals Shocking Disparity in Ozempic Production Costs"
A study revealed that it costs less than $5 to produce a month’s supply of the diabetes medication Ozempic, which is sold at a list price of $935.77 for four weekly injections. Lawmakers and patient advocates are pressuring Novo Nordisk to lower the drug's price, with U.S. Senator Bernie Sanders calling for a reduction to no more than its price in Canada, around $300. The advocacy group Patients for Affordable Drugs is also urging legislative action to address the exorbitant prices, while Novo Nordisk has expressed support for policy changes to improve patient affordability and access.
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"Study Reveals Shocking Disparity in Cost of Diabetes Drugs"
The Guardian•1 year ago
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Study Reveals Dramatic Price Difference Between Ozempic and Generic Diabetes Medicines
Originally Published 1 year ago — by CNBC
A study suggests that Novo Nordisk's diabetes drug Ozempic could be manufactured for less than $5 a month, despite the company charging close to $1,000 per month in the U.S. The findings raise questions about the high cost of the drug and similar treatments, especially as demand for them increases while insurers drop coverage due to cost. Novo Nordisk defended its pricing, citing research and development expenses and offering savings programs, but the study suggests that these drugs could be produced at significantly lower prices, enabling wider access.
Ozempic's Cardiac Benefits Boost Dialysis Providers
Originally Published 1 year ago — by Yahoo Finance
Shares of dialysis providers surged as investors focused on the cardiac benefits of Novo Nordisk's diabetes drug Ozempic, following data indicating less impact on chronic kidney disease. The potential for GLP-1 drugs to treat health issues beyond diabetes and obesity also affected shares in bariatric surgery providers, food firms, and glucose-monitoring device makers. DaVita and Fresenius Medical saw significant stock gains, while Novo Nordisk's shares fell. The full results from the trial are awaited later this year to determine the impact on dialysis stocks.
Senate Grills Pharma CEOs Over High Drug Prices
Originally Published 1 year ago — by NBC News
Pharmaceutical CEOs faced tough questioning from senators over the sky-high drug prices in the U.S., with particular focus on the stark price disparities between the U.S. and other countries for the same medications. The CEOs defended the high prices, citing the value the medications provide and the need for investment in new medicines, while also pointing fingers at insurance companies and middlemen for high out-of-pocket costs. Senators expressed skepticism and concern over the impact of aggressive policies on drug investments and access, and grilled the executives on their efforts to prevent generics from entering the market.
"Urgent Warning: Drug Shortages Pose Life-Threatening Risks to US Patients"
Originally Published 1 year ago — by ABC News
Experts warn that the national shortage of over-the-counter and prescription drugs poses a serious threat to patients' lives and health, with more than 250 active pharmaceutical shortages reported. The overdependence on international suppliers, particularly from India and China, has been identified as a major cause of the shortages, raising concerns about national security and patient safety. Lack of U.S. supervision and transparency in the pharmaceutical supply chain has led to quality issues, putting patients at risk and highlighting the need for congressional action to address the ongoing drug shortage crisis.
Navigating Insurance Challenges for Obesity Medications: Expert Insights
Originally Published 1 year ago — by Yahoo Finance
Novo Nordisk's parent company, Novo Holdings, has acquired Catalent, a fill-finish company, to enhance supply capabilities for GLP-1 weight loss drugs like Ozempic and Wegovy. Meghan Fitzgerald, a healthcare policy professor, sees this move as positive due to the supply problem in meeting patient demand. However, the persistent high costs of these drugs, around $1,000 a month, pose challenges for patients and insurance providers, especially those heavily invested in Medicare Advantage. The healthcare sector is facing headwinds such as inflation, labor shortages, and provider margin pressure, with Medicare Advantage providers being particularly exposed to risk in the near term.
Novo Nordisk's Market Value Hits $500B with Surging Demand for Wegovy
Originally Published 1 year ago — by The Washington Post
Novo Nordisk reports its highest annual profit in decades, driven by strong sales of diabetes and obesity drugs like Ozempic and Wegovy. The company is increasing supplies of Wegovy in the US to address shortages, with plans to gradually ramp up supply through 2024. Demand for their GLP-1 drugs has been high, leading to an FDA shortage designation and the emergence of specialized pharmacies making copies of the drug. Novo's annual profit in 2023 reached 83.7 billion Danish kroner, marking its largest annual net profit since 1989, with Ozempic accounting for 41% of total sales and Wegovy bringing in about $4.5 billion in sales.
Novo Nordisk's Weight-Loss Drug Sales Surge, Stock Pops on Q4 Earnings Beat
Originally Published 1 year ago — by Endpoints News
Novo Nordisk reports a 38% growth in demand for its GLP-1 products for diabetes and obesity, but continues to face supply issues with its drug Wegovy in the US due to unrelenting demand, with the FDA still listing it in shortage. The company has doubled its starter doses for Wegovy in the US, but CEO Lars Fruergaard Jørgensen acknowledges that supply will likely remain unsteady for some time due to overwhelming demand that outstrips production capacity.
"Norway's Wealth Fund Eyes Novo Nordisk and Eli Lilly for Trillion-Dollar Club"
Originally Published 1 year ago — by CNBC
Norway's wealth fund suggested that Danish drugmaker Novo Nordisk and U.S. company Eli Lilly could become the first healthcare members of the trillion-dollar club, as demand for diabetes and weight loss drugs skyrockets. Novo Nordisk's market valuation surpassed $500 billion, while Eli Lilly stands at roughly $612 billion. The fund holds stakes in both companies and is closely monitoring the potential for weight loss drugs to treat chronic kidney disease, obstructive sleep apnea, and Alzheimer's disease. The global weight loss drug market is expected to grow to about $100 billion by the end of the decade.
"Novo Nordisk Exceeds Earnings Projections with Surging Demand for Wegovy and Ozempic"
Originally Published 1 year ago — by CNBC
Novo Nordisk, Europe's largest company by market capitalization, reported better-than-expected 2023 earnings with a 31% increase in sales driven by demand for its anti-obesity drug Wegovy and diabetes drug Ozempic. The company expects sales growth of 18% to 26% this year as demand for these drugs continues to surge. However, the increased demand has put pressure on its supply chain, leading to "periodic constraints" across its portfolio, prompting the company to invest heavily in expanding production capacity.
"Limited Availability of Lilly's Mounjaro Dose in US Until Next Month"
Originally Published 1 year ago — by Reuters
The U.S. FDA website indicates limited availability of Eli Lilly's diabetes drug Mounjaro's 12.5 milligram dose through February 2024 due to increased demand, with intermittent regional pharmacy stock outages possible. The drug, approved for type-2 diabetes and weight loss, contains tirzepatide and competes in a global market estimated to reach $100 billion by the end of the decade.