Bernie Sanders has been aiming his metaphorical bazooka at billionaires and big pharma for years, and now, Novo Nordisk is next in the crosshairs. 

You know, the Danish pharmaceutical giant that’s been making headlines with its blockbuster diabetes and weight loss drugs, Ozempic and Wegovy. These drugs promise quick weight loss, but they come with a hefty price tag. Depending on which one you go for, Ozempic or Wegovy will cost you between $969 and $1,349 a month. But hey, who needs rent money when you can buy skinny in a bottle?

Bernie’s back at it, and this time, he’s calling BS on Novo Nordisk’s pricing. He’s flat-out accusing them of “ripping off the American people,” and if you think this is just some political stunt, think again. Novo’s CEO, Lars Fruergaard Jorgensen, is about to step into the Senate’s hot seat, where Bernie is running the show. And it’s not gonna be a friendly chat over Danish pastries.

For context, Ozempic and Wegovy aren’t just any ordinary drugs—they’re GLP-1 receptor agonists, often seen as the frontrunners in weight loss and diabetes treatment. In 2022 alone, Ozempic brought in $4.6 billion from Medicare, covering 780,000 patients. That’s more cash than the entire GDP of some small countries, but it’s a drop in the bucket compared to what it could cost if everyone eligible got a prescription. If all 19.7 million obese Medicare patients were prescribed Wegovy, the cost could balloon to a staggering $268 billion. To put that into perspective, it’s the kind of money that could fund massive projects or buy a fleet of private jets every single year.

(Source: Politico)

And here’s where things get even crazier: in countries like Germany, Wegovy costs just $140 a month. In the UK? Even lower at $92. Meanwhile, Americans are paying through the nose, and Bernie isn’t letting that slide. He claims that generic pharmaceutical companies could produce a knock-off version for under $100 a month. That’s quite the markup, Novo.

Now, before we all start waving pitchforks at Jorgensen, it’s worth noting he’s not taking all the heat lying down. He’s been quick to point fingers at pharmacy benefit managers (PBMs)—the middlemen who negotiate drug prices and, according to him, take a hefty slice of the pie. In fact, Jorgensen might just pull a “PBM ate my homework” excuse at the Senate hearing, claiming these corporate vultures are pocketing most of the cash while Novo foots the bill for drug development.

And hey, he’s not entirely wrong. PBMs have been accused of keeping insulin prices artificially high and turning a profit off of drugs like Ozempic through fat rebates. It’s gotten so bad that the Federal Trade Commission slapped a lawsuit on three of the largest PBMs last week. But Bernie’s not buying that excuse either. To him, it’s all part of a broader problem of pharmaceutical companies making bank while average Americans can’t afford life-saving meds.

Here’s the real question: Can Bernie Sanders, the progressive who’s been going after big pharma for years, actually make a difference this time? With Medicare now negotiating drug prices thanks to the Inflation Reduction Act, it’s clear Washington is finally starting to play hardball with pharma companies. But Bernie’s ambitions go further. He wants an expansion of Medicare’s drug-price negotiation program, aiming to lower prices across the board, not just for a select few drugs.

The aftermath of this Senate showdown could be pivotal. If Sanders succeeds in putting pressure on Novo Nordisk, you can bet Eli Lilly, the maker of Wegovy’s competitor Zepbound, will be next in line. After all, no one wants to be the bad guy in a drug price scandal during an election year.

No matter how you feel about Bernie’s socialist leanings, this hearing could be the spark that ignites a larger crackdown on the pharmaceutical industry. Let’s face it—someone has to call out big pharma for charging rent-sized prices for a weight loss shot or pill. It’s getting a little ridiculous.

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