President Joe Biden and Senator Bernie Sanders have co-authored an op-ed calling for pharmaceutical companies to lower the prices of prescription drugs, particularly obesity medications such as Ozempic and Wegovy. This call comes amid rising public concern over the high cost of these drugs, which can reach up to $1,000 per dose despite being producible for just $5. The op-ed highlights the significant financial burden on Americans, who pay some of the highest drug prices in the world. The Biden administration is pressuring companies like Novo Nordisk and Eli Lilly to reduce their prices, with Biden stating that if Big Pharma does not comply, the government will take action to enforce price reductions. This initiative is part of a broader effort to address corporate greed in the pharmaceutical industry and ensure that all Americans have access to affordable medications.
"Why do Americans pay so much more for common medications than people in other countries?" Sen. Durbin & FTC/Khan's op-ed only said "pharmaceutical companies use illegal tactics to block competition that could lower prices & encourage innovation" w/ no mention of PBMs at all.... https://t.co/z8OLVwzcCk
Opinion: Pharmaceutical companies have gotten away with tactics that boost profits at the expense of people’s lives and pocketbooks. This cannot continue. https://t.co/JsDJGce7lG
Should investors brace for more pressure on pharma ahead of the presidential election? @karenfinerman, @timseymour, @Bonawyn and @RiskReversal react to a new op-ed from President Biden and Sen. Bernie Sanders, slamming the high cost of GLP-1 weight loss drugs. $LLY $NVO https://t.co/KqAfQkEOlA
Biden is seizing on the cost of obesity drugs as he seeks to move past last week's disastrous debate https://t.co/urND9kpUUG
Fighting words: Lilly and Novo swat back at the Biden/Sanders call for lower GLP-1 prices https://t.co/Oyeqzx6lJr by @AnjKhem
Big Pharma does not want competition or any other drug maker to take a slice of the Big pie. $LLY CEO knows what $VKTX has and the superior data in both efficacy and safety. Different bearish arguments thrown at $VKTX from manufacturing capabilities, material cost, FDA $VKTX…
President Biden slams $NVO and $LLY for "charging way too much" for #Ozempic and other weight loss drugs. 🤔 While we agree these meds aren't cheap, we're wondering why other pricey products (ahem, $NVDA) aren't getting the same scrutiny. Rebel's Edge 🏴☠️ 1pm with @jonnajarian… https://t.co/1TTCur3gFd
Biden calls for lower prices of Ozempic, similar drugs https://t.co/xxvADc44BF
If Big Pharma refuses to lower prescription drug prices and end their greed, we will do everything within our power to end it for them. @SenSanders and I will not rest until every American can afford the prescriptions they need to lead healthy, happy, and productive lives. https://t.co/u1h8LIOhpb
$LLY pounded on this name around low 700 (though was late) $VKTX pounded on this name just over $3 Both are long term positions for Obesity in my portfolio. Cut the noise and rely on your due diligence.
MEME WATCH: What Do You Do When You Lose a Debate and More? "Biden’s comments seem like “a last-ditch effort to appease certain voters,” The call for lower drug prices comes as public attention shifts toward this fall's presidential election, and as Biden faces calls from… https://t.co/PxNqtDK8w1
Ok @jimcramer, you have said that you prefer $LLY over $VKTX in part because your sources tell you that the FDA may not approve competing obesity treatments. With the political pressure to lower obesity drug prices, wouldn't the FDA be under pressure to approve alternatives?
Pharmaceutical companies can make whatever excuses they want for their sky-high drug prices — we know it’s bullshit. And Biden and Bernie just called them on it. If Big Pharma won’t quell its own greed, it’s up to the government to do it for them. https://t.co/YiodsDIoQI
President Biden and I are working together to lower the outrageously high cost of prescription drugs in our country. Today, we wrote a joint op-ed that appeared in USA Today. Americans cannot continue to be ripped off by the pharmaceutical industry. https://t.co/m2RExPsq8e
$LLY $NVO Biden Saying companies need to bring price down Another political stunt before elections $VKTX Definitely more available treatments in the future good for the consumers
Pharmaceutical firms have gotten away with using junk patent listings to block competition & hike drug prices. @SenatorDurbin & I explain how lawmakers & @FTC are tackling these tactics. No American should pay inflated prices due to corporate lawbreaking. https://t.co/gsgIFqbgUn
Ozempic maker Novo Nordisk facing pressure as study finds $1,000 appetite suppressant can be made for just $5. https://t.co/srnll5eMt8
"There is no rational reason why Americans, for decades, have been forced to pay, by far, the highest prices in the world for the prescription drugs they need," write @POTUS Joe Biden and @BernieSanders. https://t.co/HapcIOFt5o
Bernie Sanders and Joe Biden just co-authored a piece laying into big pharmaceutical companies for over-charging Americans on obesity drugs. I realize Biden is senile, but would his replacements do anything like this? Most wouldn't. https://t.co/e6qUxGJTDk
If Novo Nordisk refuses to substantially lower prescription drug prices in our country and end their greed, @POTUS and I will do everything within our power to end it for them. https://t.co/gVZ4jZXVo6
weight-loss drugs enter the election campaign as Biden asks NovoNordisk & EliLilly to reduce their prices
Below is example of why congressional reps & senators have been asking HHS & FTC about what they're doing to prevent abuse of power by 3 prescription drug insurance companies/pharmacy benefit mgrs who control ∼80% of all US prescriptions & require patients to use pharmacies they… https://t.co/R1BPYavi63
Weight-loss is complicated. It’s not always just a matter of “eating less” and “exercising more”. There is a real trend right now with millions of people taking medications such as Ozempic or Mounjaro intended for treating diabetes in order to lose weight. To many, it seems… https://t.co/ypY865CHBj
We may be a politically divided nation, but I think we can all agree on one thing: It's time for Big Pharma to stop ripping off the American people. No more corporate greed. https://t.co/Wkb6n8KIXl
STIFEL $VKTX “VK2735 remains only oral dual GLP-1/GIP peptide in development with “surprising” tolerability, and management was confident that this profile remains consistent at the 60mg cohort (which is now complete)—another data point to be released on the 2Q call. 🙏👍 $XBI https://t.co/tiPLigWNBt
GLP-1 names rally like they're the AI of healthcare: Check out spike from $HIMS moving into compounded GLP-1s. (Up in spite of short-seller report.) $LLY $NVO gained nearly as much in the first half of this year as they did in all of 2023. Meantime... https://t.co/IHlz8ael6E
$LLY new highs - solid LT uptrend. https://t.co/R8orvSwtiW
Viking Thera (VKTX) 57.56 +4.55 (+8.58%) 11:02 ET aug 16th $60 calls now $7.60 from $3-4 when they were sent Viking Thera (VKTX) 57.85 +4.84 (+9.13%) 11:15 ET
$VKTX call doubled! https://t.co/uRr5F1AYD9
$VKTX #Update Solid move since the upgrade and flow noted Correction, we only reclaimed 20/21 on daily clouds 50/55 EMA should be next target that you see on charts in coming sessions Risk still 50 on this swing https://t.co/vcG0QaGsBg https://t.co/i4BXK4quZf
$VKTX https://t.co/4trN9iVUJk https://t.co/m2T8AL5QZK
"For example, Express Scripts appears to routinely under-reimburses pharmacies at cancer clinics for expensive cancer drugs. When pharmacies reject [ES's] predatory terms, patients are forced to use Accredo’s mail-order pharmacy, which is prone to delays & safety issues, but… https://t.co/K6NFv7rgbh
"In August 2022, Express Scripts offered pharmacies that compete with Accredo such usurious contract terms that nearly 15,000 pharmacies left the TRICARE network, forcing 400,000 active duty & retired military families to decide between searching for a new in-network pharmacy… https://t.co/K6NFv7rgbh
Study: Semaglutide and tirzepatide weight loss varied. 1/3 on semaglutide lost <10% weight; 16% on high-dose tirzepatide lost <10%. 14% on semaglutide and 9% on high-dose tirzepatide lost <5% weight. "Not Everyone Loses Weight on Ozempic" @Wired https://t.co/GPYPGI3PTW
For many patients, GLP-1 drugs like Ozempic and Wegovy lead to substantial weight loss. But some see much less benefit, and researchers are trying to figure out why. https://t.co/Ue4tizdRz0