Reported 12 months ago
The weight-loss drug Saxenda, also known as the 'Skinny Pen', produced by the US company Novo Nordisk, is causing a frenzy worldwide as it is being widely used for weight loss instead of its intended purpose for diabetes treatment. The high prices of these drugs may not only squeeze out medications for diabetic patients but also potentially burden the healthcare insurance system. In response, President Biden and Senator Sanders directly called for the drug manufacturers Novo Nordisk and Eli Lilly to lower their prices in a joint article published in a US newspaper, warning that failure to do so could bankrupt the US healthcare system. The stocks of Novo Nordisk and Eli Lilly saw decreases following the publication. This escalating issue sheds light on the concerns over high drug prices in the US, with both Democratic and Republican lawmakers scrutinizing the situation. Analysts estimate the global market for such weight-loss drugs, utilizing the hormone glucagon-like peptide-1 to control appetite, could reach $15 billion annually by 2030.
Source: YAHOO