Ozempic, Novo Nordisk A/S’s diabetes blockbuster, will “very likely” be certainly one of the subsequent drugs to have its price reduced as a part of negotiations with the U.S. government, an organization executive said.
“It is very likely that Ozempic will be part of the negotiations in the next round and we are prepared for that,” Ulrich OtteSenior Vice President of Finance & Operations at Novo Nordisk, said Tuesday on the Cantor Global Healthcare Conference in New York.
Novo’s American Depositary Receipts fell as much as 3.7% before their decline normalized.
The ability to barter drug prices is a component of a broad package of measures specified by President Joe Biden’s Anti-Inflation Act, which allows the U.S. government to haggle over drug prices, as many other countries all over the world already do.
The U.S. Centers for Medicare and Medicaid Services will announce the subsequent 15 prescribed drugs chosen for negotiation by February 1, 2025. KFFCMS will announce maximum fair prices for these drugs by November 30, 2025, and negotiated prices shall be available starting January 1, 2027.
Ozempic costs $968.52 monthly within the United States. Most Medicare plans cover the price of controlling blood sugar levels in patients with type 2 diabetes.
Health analysts expect Ozempic to be amongst the subsequent drugs to have their prices reduced.
