Ozempic could be the next target of Medicare drug price negotiations – here's why
Publishing timestamp: 2023-08-31 12:17:18
Summary
The Biden administration has released the first 10 drugs that will be subject to price negotiations with Medicare, and analysts expect Ozempic, a diabetes treatment from Novo Nordisk, to be included in the next round of talks. Medicare Part D already spends a significant amount on Ozempic, and the negotiations aim to lower medication prices. The drug is part of a class of drugs called GLP-1s, which mimic a hormone that suppresses appetite. Lowering the price of Ozempic through negotiations could lead to significant savings for Medicare. There is also a possibility that negotiations could affect Wegovy, another Novo Nordisk drug, due to recent research demonstrating its heart health benefits.
Sentiment: NEUTRAL
Tickers: NOVO.B-DK,
Keywords: biotech and pharmaceuticals, social issues, weight management, breaking news: politics, business news, health care industry, medicare health plans, biotechnology, diabetes, novo nordisk a/s, pharmaceuticals, politics, business, breaking news,
Source: https://www.cnbc.com/2023/08/31/ozempic-could-face-medicare-drug-price-negotiations-next.html