Dissatisfied with expensive weight loss drugs, US senators pressure Novo Nordisk A/S Sponsored ADR Class B(NVO.US): Generic drug prices can be less than $100 per month.

US Senator Bernie Sanders said on Tuesday that major generic drug companies have confirmed to him that they can sell a generic version of Novo Nordisk A/S Sponsored ADR Class B(NVO.US) diabetes drug Ozempic for less than $100 per month. Lars Jorgensen, CEO of Novo Nordisk A/S Sponsored ADR Class B, will testify next week before the Senate Health, Education, Labor, and Pensions Committee (HELP), which is chaired by Sanders. The focus of the hearing will be on the pricing of Novo Nordisk A/S Sponsored ADR Class B's popular Ozempic and weight loss drug Wegovy in the US. Sanders said that he has had discussions with several major generic drug manufacturers in the past few months. "They have looked into it and told me that they can sell a generic version of Ozempic to Americans for less than $100 per month," Sanders said. Sanders did not disclose the names of the company executives he spoke with. The patent for Ozempic is not set to expire in the US until 2032. Some analysts predict that the total market size for weight loss drugs will reach $150 billion by 2030. Novo Nordisk A/S Sponsored ADR Class B and Eli Lilly (LLY.US) dominate this market. However, US lawmakers have criticized the high cost of these drugs. According to Novo Nordisk A/S Sponsored ADR Class B's website, the list price for Ozempic in the US is $935.77 per month, while Wegovy's list price is $1349.02 per month, although most consumers pay a lower price.