CEO Lars Fruergaard Jørgensen agreed today, during a Senate committee hearing, to sit down with lawmakers and pharmacy benefit managers (PBMs) to look into the possibility of cutting list prices for the company’s popular diabetes and weight-loss drugs.

CEO Lars Fruergaard Jorgensen, has revealed that their diabetes medication and often hailed as a “miracle” weight loss drug, Ozempic will soon be eligible for U.S. government price negotiations, potentially within the next year.

Novo Nordisk A/S Chief Executive Officer Lars Fruergaard Jorgensen will use a familiar argument to defend the US prices of blockbuster drugs Ozempic and Wegovy when he appears Tuesday before a congressional committee led by Senator Bernie Sanders: It’s the middlemen.

"All we are saying [to Novo Nordisk] is, Treat the American people the same way that you treat people all over the world. Stop ripping us off," Sanders said.

During a tense hearing before a Senate committee on Tuesday, Novo Nordisk CEO Lars Fruergaard Jørgensen faced tough questions over the company's high prices for its blockbuster drugs Ozempic and Wegovy.

Weight-loss drugs sell in Europe for a fraction of what they cost in the United States, a pattern that is typical for brand-name prescriptions.

Sen. Bernie Sanders grilled Novo Nordisk's CEO Lars Jorgensen over the cost of the company's weight loss and diabetes medications, Ozempic and Wegovy.

Novo Nordisk CEO grilled over company's pricing for the diabetes drug Ozempic and the weight-loss drug Wegovy.