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Per Senate analysis, outrageously priced weight-loss drugs could bankrupt US health care
Prices would need to be dramatically slashed to avoid increasing the national deficit.
If just half of the adults in the US with obesity start taking a new weight-loss drug, such as Wegovy, the collective cost would total an estimated $411 billion per year, the analysis found. That's more than the $406 billion Americans spent in 2022 on all prescription drugs combined.
It will easily lead to spikes in health insurance premiums—taxpayer-funded Medicare and Medicaid programs will also see an extraordinary financial burden.
The drugmakers would have to slash prices of their weight-loss drugs by 90% to "get in the ballpark" of not increasing the national deficit and set their US prices to match the relatively low prices they've set in other countries.
Example: it cost $1300/month in the US, vs $186/month in Denmark.
A study by researchers at Yale estimated that drugs like Wegovy can be profitably manufactured for less than $5 per month.
GREED!!!
Might be less than all the costs of heart disease, stroke, diabetes though. It's ridiculously expensive. 200-300 a month sounds like plenty of profit. But supply and demand. So much demand that they can't keep up even at the current price.
Might be less than all the costs of heart disease, stroke, diabetes though. It's ridiculously expensive. 200-300 a month sounds like plenty of profit. But supply and demand. So much demand that they can't keep up even at the current price.
Semaglutide has it's own problems and has been linked to bowel problems, pancreas issues thyroid issues and a host of other listed side effects, the most prominent of which is nausea and vomiting.
In many countries it's only used on prescription for those who are mobidly obese or who need to lose weight due to risks related to type 2 diabetes, although in terms of the control of Type 2 diabetes metformin is a more effective drug.
The long term effects of Semaglutide are not full known, and two thirds of those who take the drug out the weight back on after stopping the drug, whilst around one fifth of people stop the drug due to it's side effects.
If you want to lose weight and you are just over weight rather than morbidly obese a more effective and healthier way is to eat healthy and exercise coupled with some moderate fasting, and this has been proved to be effective in terms of Type 2 diabetes.
In terms of Semaglutide it will be limited in most countries and will certainly not just be available on prescription to any one who is just overweight, instead being reserved for those who are severally overweight or as part of a treatment for certain medically conditions.
In the UK it had to be prescribed by a specialist (consultant), and an individual will only be able to take the drug for a maximum of two years, and prescriptions will only be in relation to a last resort for those with serious weight problem or health conditions and not just as some general weight loss treatment.
It should be noted that Semaglutide's patents expire beginning in 2030 in the UK and in 2031 in the US, whilst in Brazil it will expire in 2026, whilst s Chinese court ruled in 2022 that all patents on semaglutide were invalid and therefore the Chinese can just manufacture there own cheap patent free versions.
Finally in terms of price difference -
"Ozempic, the semaglutide injection used for T2D treatment, has a list price of $936 in the United States and $169 in Japan. Prices were $147 in Canada, $144 in Switzerland, $103 in Germany and Netherlands, $96 in Sweden, $93 in the United Kingdom, and $87 in Australia. France had the lowest price at $83." (21 August 2023; figures refer to a one-month supply)."
As fir Wegovy it currently has a list price of $1,349.02 per month in the US, but as with Ozempic is often far cheaper in other countries.
Last edited by Brave New World; 05-19-2024 at 05:39 AM..
This is what happens when the government gets involved in something. If government did not control health care, what incentive would pharmaceutical companies have in bribing Congresspeople?
It's covered for weight loss by most insurance. There is no monolithic thing. You'd need to check your formulary. It's covered by Kaiser. You still need to meet the criteria which is usually some level of BMI and/or a lower level with comorbidities such as diabetes, hypertension, heart failure, lipidemia. Just because it's on formulary doesn't mean insurance will cover it. They probably wouldn't for me as BMI is over 25 but under 30 and no comorbidities. Could I lose the love handles, yes. Is it medically necessary, no.
It was only FDA approved back in March. Not all insurance companies do monthly formulary updates.
Might be less than all the costs of heart disease, stroke, diabetes though. It's ridiculously expensive. 200-300 a month sounds like plenty of profit. But supply and demand. So much demand that they can't keep up even at the current price.
Thanks for pointing this out….it is not a savings that I immediately would have thought about. It would be interesting to know what the cost of treating obesity is currently, and comparing that to cost of these new drugs.
If you want to lose weight and you are just over weight rather than morbidly obese a more effective and healthier way is to eat healthy and exercise coupled with some moderate fasting, and this has been proved to be effective in terms of Type 2 diabetes.
Assuming this is true, it is abundantly clear that people can’t or won’t do this.
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