Senator Bernie Sanders is investigating the high prices of Ozempic and Wegovy, two diabetes and weight-loss medications. He argues that these drugs are unaffordable for many patients, especially in comparison to other countries. Sanders’ cost argument focuses on the manufacturing cost of GPL-1 drugs, which is estimated to be $5, much lower than the retail price of around $1,000 for a four-week supply. However, the pharmaceutical industry prices products based on the value of the innovation they represent, taking into account the risks and uncertainties involved in research and development. While challenging unfair pricing practices is important, it’s crucial to understand the complexities of pricing in the pharmaceutical industry.
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The Senate Attacks on Pharma Put the Industry in Jeopardy and Consumers at Risk
