September 26, 2024

Musk Advocates for Accessibility of GLP-1 Drugs Amid High Prices in the U.S.

Recent treatments that mimic a hormone regulating appetite and blood sugar have proven highly effective for obesity and type 2 diabetes management. The most notable GLP-1 medications available are Ozempic and Wegovy, both developed by Danish pharmaceutical company Novo Nordisk.

Elon Musk recently shared on X, the social media platform he owns, that addressing obesity significantly lowers the risk of related diseases, particularly diabetes, and enhances overall quality of life. He emphasized the need to make appetite-suppressing medications accessible to everyone.

His comments came in response to Senator Bernie Sanders, who noted that generic drug manufacturers claim they could offer these medications for less than $100 a month. Currently, the list price in the U.S. for Ozempic is $968.52 and for Wegovy, it’s $1,349.02. In contrast, these drugs are much more affordable in other countries, with Ozempic priced at just $59 in Germany and Wegovy at $92 in the U.K.

Musk remarked, “I don’t often agree with Bernie on many issues, but I do on this one.”

During a recent Senate hearing, Senator Sanders questioned Novo Nordisk CEO Lars Fruergaard Jørgensen about the company’s pricing strategies for these high-demand drugs in the U.S. He highlighted that since 2018, Novo Nordisk has earned $50 billion from Ozempic and Wegovy, with a staggering 72% of that revenue generated from U.S. sales. Sanders stated, “In other words, the United States is Novo Nordisk’s cash cow for Ozempic and Wegovy.” He even quoted Musk’s tweet, acknowledging, “Mr. Musk is right.”