U.S. Senator Presses Novo Nordisk (NVO.US): Generic Drug Prices Can Be Below $100/Month

U.S. Senator Bernie Sanders said on Tuesday that major generic drug companies have confirmed to him that they can sell a copy of Novo Nordisk's (NVO.US) diabetes drug Ozempic for less than $100 a month.

Novo Nordisk CEO Lars Jorgensen is due to testify next week before the Senate HELP Committee, which is chaired by Sanders, about the price of Ozempic and Wegovy, Novo Nordisk's popular diabetes and weight loss drugs in the U.S.

Sanders said he had spoken to the CEOs of several major generic drugmakers over the past few months.

"They've looked into it and they've told me that they can sell a generic version of Ozempic to Americans for less than $100 a month," Sanders said.

Sanders did not name the executives he spoke with. Ozempic's patent is not due to expire in the U.S. until 2032.

Some analysts predict the total market for weight loss drugs will be $150bn by 2030. Novo Nordisk and Eli Lilly (LLY.US) dominate the market.

However, U.S. lawmakers have criticised the high cost of these drugs.

Novo Nordisk's website shows Ozempic is priced at $935.77 a month in the U.S. and Wegovy at $1349.02, though most consumers pay less.