London: U.S. President Joe Biden and Senator Bernie Sanders called on Novo Nordisk to cut prices of its Ozempic and Wegovy drugs for weight loss and diabetes, in an opinion piece by them published in USA Today on Tuesday.

Shares of the Danish drugmaker were down 1 per cent. Shares of rival Eli Lilly fell 1.1 per cent in U.S. premarket trading.

Biden and Sanders also said Eli Lilly was charging high prices for its own obesity drug Mounjaro. “If the prices of these drugs are not substantially reduced, they have the potential to bankrupt the American health care system,” they said.

In April, Sanders sent a letter to Novo President Doug Langa seeking more information on U.S. prices for the two drugs.

(Reporting by Manas Mishra in Bengaluru; Editing by Shilpi Majumdar and Arun Koyyur)

  • Published On Jul 2, 2024 at 06:28 PM IST

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