Senate committee opens investigation into price of Wegovy, Ozempic

CHARLOTTE — A US Senate Committee has opened an investigation into Novo Nordisk for how the company prices its popular medications, Wegovy and Ozempic.

They are costly but effective when it comes to treating diabetes and weight loss.

This is a crusade that state treasurer Dale Folwell has been leading for years.

He says the list price for Wegovy is $1,350 each month, but a recent study shows it only costs $22 a month to make, and a similar product from overseas is less than $300.

“We are not questioning whether it works,” Folwell said. “We are questioning whether we should have to pay for it. We are starting to see not monthly, not weekly, but daily announcements by big states and big units of government. The Mayo Clinic just announced they are no longer going to cover the reimbursement for this drug. We need to lower the cost of this drug so we can afford it, especially for those people who need it the most.

The state health plan no longer covers this drug for weight loss purposes. After that went into effect, the drug manufacturer released this statement:

“Denying patients coverage for FDA-approved therapies further perpetuates the stigma and bias that obesity is a choice rather than an AMA-recognized chronic disease.”

(WATCH BELOW: Counterfeit versions of Ozempic reported nationwide, FDA says)