cant compare the systems that are built in so differently. Trying to moralise over a company with "is it okay for you that these 10000 people will die" is mad, when the system in usa is built to take advantage of everything you can.
You can see that Novo Nordisk has no problem negotiating prices with health care systems, the problem is the american health care system not being able to negotiate prices for the people without middle men taking big cuts.
CVS Health's CEO (largest PBM in USA) is Karen Lynch, appointed in Feb 2021, has a tenure of 3.58 years and total yearly compensation is $21.62M vs Lars F. Jørgensen who make $9.9M. It would be extremely relevant to have her here...
And important to note, is that cvs net worth is ~74 billion, while Novo Nordisk has a net worth of ~554 billion dollars. Around ×7.5 less, and still the CEO gets more than ×2 in total yearly compensation. Who is to blame?
What a strange system. Sounds like meds would be less expensive if nobody had health insurance! I didn't hear any of them mentioning the premium the patients pay to have insurance.
Sen.Baldwin did you hear the first half of his testimony? Change the system, stop your petty extortion tactics. They are doing much more than they have to.
America is generally a sick country. Food is over processed and unhealthy, sugar is every where and then the health insurance and health system is among the most convoluted in the world. A few people in America have good lives but the majority is living in poverty and struggle to have a good health care. It is the only country where it is normal for the middle class to have 2 jobs. I love America but I would never live there. There is a reason why in EU and especially Denmark 🇩🇰 we pay around 40 % pct of our salary to taxes. America is also printing money like no other country. Health care is only a symptom of the sick society and system in USA.
As a Dane, I am so proud. You Americans must learn to help each other, for example over taxes. But you Americans will not understand. Your country would do so well with someone like Bernie Sanders as President, but you don't understand that either.
Sure we do understand it, but AIPAC doesn't back and bankroll his Presidential campaigns. Instead, AIPAC works against him and every other viable possibility who doesn't dance to their dictates like a marionette.
Two things I wish he would stop saying #1".We don't set the price". Sure you do. #2 "we have to pay rebate to PBM". PBMs don't keep the rebates. Almost all of the rebate is passed on back to the plan payers. Also, senator Marshall is grossly informed about the PBM's share it really shows how shallow his knowledge is about the full picture and real cost driver. I feel sorry for the people that he represents.
People need to understand the demand for Wegovy has risen over the last 3 years since it has been out on the market. When the demand for it outweighed the supply that’s when the doctors around the country started to use Ozemplc and Monjauro off-book. When that occurred people who were diabetic couldn’t find it anymore, and insurers started to say they wouldn’t cover it for weight loss only if you are a diabetic. Yes, I know because people are acting like Ozempic is a magic cure for weight loss when it’s not. You still have to workout, and eat right to lose weight.
And a lot of people have to pay for it out of pocket. I used to work at a pharmacy, and I remember that Ozempic during the pandemic was at I think it $800 (which is still high) a month, and now it’s over $1200 a month.
In the year 2023, the CVS Health Corporation generated approximately 357.8 billion U.S. dollars of revenue in total, an increase compared to the previous years.12. feb. 2024 Who else than manufactures of medicine contributed to this revenue ?
It costs the same in Denmark, Germany as in the US etc. the difference is that in Denmark and Germany for instance, the state social system pays the difference. Pay more taxes like we do, and your state can pay for it. Same goes for cancer medicin and anything else. In Denmark where i live, ALL treatment for serious illness is FREE. I pay 0$ insurance and 0$ to healthcare if i need cancer treatment or ozempic treatment for instance.. I pay it through my tax.
In the UK, the first month’s Wegovy injections are around $92 dollars each but by the fourth month it goes up to around $180 per injection. I’m not sure how much it goes up after that, because I’m too scared to find out. I wonder if the prices shown in this video are for the same month for each country, for example can it be true that in the US the first month’s injections are $337 each?
@@ErikBruh I wonder if that’s why it’s so expensive in the US because most of it will be paid for by insurance. Otherwise who could afford it? In the UK most people pay for themselves or in some extreme cases they get it free on the National Health Service.
My insurance doesn’t cover wegovy and the cost is $1300 give or take $20 depending on the pharmacy per 28 day refill. It does cover Ozempic, and at a CVS pharmacy I would pay $82.35 while my plan pays $852.38 for a 28 day supply. These prices are consistent through all doses.
So, first how does the US breakdown in terms of the disease demographics that this therapeutic addresses? I'm concerned that it is driven by individual lifestyle choices such as diet. Don't know but have heard anecdotally that 30% of US population is clinically obese? If so we need to get the cart BEHIND the horse and get this problem under control going forward. That said existing problem needs to be dealt with calling our big pharma and not allowing ridiculous pricing such as this is unfair.
Getting Congress members, PBM managers, and pharmaceutical CEOs in a room……… I don’t think there’s gonna be a whole lot of truth spoken amongst those groups. Unfortunately, those three organizations are extremely untrustworthy.
Everyone is losing their minds over this until novo and lilley says oppps and we start seeing attorney commercials on TV if you took these drugs you may be entitled too.... They are price gouging bc they have control of the weight loss market. I thought that was against the law? They offer rebates that are supposed to help people pay for it but it still keeps the drug out of reach for the largest majority of people who could benefit the most. Its not right in anyway shape or form.
The problem are the PBMs getting 74% that’s why our meds are so much more expensive, and then if they drop the meds to low the PBMs drop the medication and patients can’t get it so America system is very broken not Novo Nordisk!
Thank you Bernie Sanders
Money beats morals and ethics. That's the American dream
cant compare the systems that are built in so differently. Trying to moralise over a company with "is it okay for you that these 10000 people will die" is mad, when the system in usa is built to take advantage of everything you can.
novo is not the problem,its the middelmen
You can see that Novo Nordisk has no problem negotiating prices with health care systems, the problem is the american health care system not being able to negotiate prices for the people without middle men taking big cuts.
CVS Health's CEO (largest PBM in USA) is Karen Lynch, appointed in Feb 2021, has a tenure of 3.58 years and total yearly compensation is $21.62M vs Lars F. Jørgensen who make $9.9M. It would be extremely relevant to have her here...
And important to note, is that cvs net worth is ~74 billion, while Novo Nordisk has a net worth of ~554 billion dollars. Around ×7.5 less, and still the CEO gets more than ×2 in total yearly compensation. Who is to blame?
The american health system has nothing to do with Novo Nordisk.
So who runs the PBMs?
Thanks Senator Sanders
He didn't get it
What a strange system. Sounds like meds would be less expensive if nobody had health insurance! I didn't hear any of them mentioning the premium the patients pay to have insurance.
This country is a mess
and if you payed your tax like in denmark,you would be home free usa
*paid, and given a choice most people would rather have a decent healthcare system.
Sen.Baldwin did you hear the first half of his testimony? Change the system, stop your petty extortion tactics. They are doing much more than they have to.
novo is not the culprit here....end of story
America is generally a sick country. Food is over processed and unhealthy, sugar is every where and then the health insurance and health system is among the most convoluted in the world. A few people in America have good lives but the majority is living in poverty and struggle to have a good health care. It is the only country where it is normal for the middle class to have 2 jobs. I love America but I would never live there. There is a reason why in EU and especially Denmark 🇩🇰 we pay around 40 % pct of our salary to taxes. America is also printing money like no other country. Health care is only a symptom of the sick society and system in USA.
As a Dane, I am so proud. You Americans must learn to help each other, for example over taxes. But you Americans will not understand.
Your country would do so well with someone like Bernie Sanders as President, but you don't understand that either.
Sure we do understand it, but AIPAC doesn't back and bankroll his Presidential campaigns. Instead, AIPAC works against him and every other viable possibility who doesn't dance to their dictates like a marionette.
We shouldn't be charged this way it's disgusting
I'm diabetic and it's a struggle to afford this and it works better for me than metformin. But I still have to struggle to get it.
Two things I wish he would stop saying #1".We don't set the price". Sure you do. #2 "we have to pay rebate to PBM". PBMs don't keep the rebates. Almost all of the rebate is passed on back to the plan payers. Also, senator Marshall is grossly informed about the PBM's share it really shows how shallow his knowledge is about the full picture and real cost driver. I feel sorry for the people that he represents.
This. ⬆️
People need to understand the demand for Wegovy has risen over the last 3 years since it has been out on the market. When the demand for it outweighed the supply that’s when the doctors around the country started to use Ozemplc and Monjauro off-book. When that occurred people who were diabetic couldn’t find it anymore, and insurers started to say they wouldn’t cover it for weight loss only if you are a diabetic. Yes, I know because people are acting like Ozempic is a magic cure for weight loss when it’s not. You still have to workout, and eat right to lose weight.
And a lot of people have to pay for it out of pocket. I used to work at a pharmacy, and I remember that Ozempic during the pandemic was at I think it $800 (which is still high) a month, and now it’s over $1200 a month.
Why are we, the US paying the highest prices for the development of the drugs but other countries get the benefits of them at a cheaper price?
Medical deduction paid by taxes is the reason.
In the year 2023, the CVS Health Corporation generated approximately 357.8 billion U.S. dollars of revenue in total, an increase compared to the previous years.12. feb. 2024 Who else than manufactures of medicine contributed to this revenue ?
@@mortenschmidtnielsen patient co pays
@@mortenschmidtnielsen apparently they get rebates from the manufacturers to include their products. Isthat what tariffs do for us?
Put your orders in I will send it to you from the UK
MAHA!
Make America Healthy Again !
& make Ozempic affordable !
It costs the same in Denmark, Germany as in the US etc. the difference is that in Denmark and Germany for instance, the state social system pays the difference. Pay more taxes like we do, and your state can pay for it. Same goes for cancer medicin and anything else. In Denmark where i live, ALL treatment for serious illness is FREE. I pay 0$ insurance and 0$ to healthcare if i need cancer treatment or ozempic treatment for instance.. I pay it through my tax.
Preach Sanders!!!!
Senator Marshall gets it.
Thankyou
Can we ban seed oils next ?
Why do u need pbms? Just to take commissions?
In the UK, the first month’s Wegovy injections are around $92 dollars each but by the fourth month it goes up to around $180 per injection. I’m not sure how much it goes up after that, because I’m too scared to find out.
I wonder if the prices shown in this video are for the same month for each country, for example can it be true that in the US the first month’s injections are $337 each?
Mine has been $1500 every month. $15 after insurance
I have a friend who’s on it and it’s costing her $1000/month.
@@ErikBruh I wonder if that’s why it’s so expensive in the US because most of it will be paid for by insurance. Otherwise who could afford it?
In the UK most people pay for themselves or in some extreme cases they get it free on the National Health Service.
@@dfryer1979 that is really bad.
My insurance doesn’t cover wegovy and the cost is $1300 give or take $20 depending on the pharmacy per 28 day refill. It does cover Ozempic, and at a CVS pharmacy I would pay $82.35 while my plan pays $852.38 for a 28 day supply. These prices are consistent through all doses.
So, first how does the US breakdown in terms of the disease demographics that this therapeutic addresses? I'm concerned that it is driven by individual lifestyle choices such as diet. Don't know but have heard anecdotally that 30% of US population is clinically obese? If so we need to get the cart BEHIND the horse and get this problem under control going forward. That said existing problem needs to be dealt with calling our big pharma and not allowing ridiculous pricing such as this is unfair.
Getting Congress members, PBM managers, and pharmaceutical CEOs in a room……… I don’t think there’s gonna be a whole lot of truth spoken amongst those groups.
Unfortunately, those three organizations are extremely untrustworthy.
Caps everywhere
Everyone is losing their minds over this until novo and lilley says oppps and we start seeing attorney commercials on TV if you took these drugs you may be entitled too....
They are price gouging bc they have control of the weight loss market. I thought that was against the law?
They offer rebates that are supposed to help people pay for it but it still keeps the drug out of reach for the largest majority of people who could benefit the most.
Its not right in anyway shape or form.
Change your diet and get off all drugs from the drug dealers who line their pockets
Are they planning on calling in the EVP for North America? Where was he? 🤔
Bs
capitalism, that's why. how's socialism looking?!
A mix is better
We can have both certain things like healthcare tho we have to get this ironed out.
Thank you Senator Sanders. see he won't answer the question
He doesn’t have to, Lars answers to us investors and shareholders, not US politicians. Respectfully nothing will change and it’s business as usual.
The problem are the PBMs getting 74% that’s why our meds are so much more expensive, and then if they drop the meds to low the PBMs drop the medication and patients can’t get it so America system is very broken not Novo Nordisk!
Can they also sell this drug in south Africa at an affordable rate?
ozympic is a horrible drug. I hope they make it 5000 dollars.
How come no one understands this? I agree but ppl are using this like it’s water ! The side effects will be horrible when they surface