New tariffs could raise prices of Ozempic, Wegovy
Share this @internewscast.com


(NEXSTAR) – A trade deal between the U.S. and the European Union is expected to impose a 15% tax on pretty much all goods imported from Europe, from fancy French wines to sleek German cars and in-demand pharmaceuticals.

Some of the most recognizable brand names that could be impacted include Ozempic and Wegovy, two injectable drugs that have grown popular in recent years for their abilities to treat diabetes and promote weight loss. Both are made by Novo Nordisk, a Danish company.

But the European drugs are extremely popular here in the U.S. Wegovy – the version of the drug that’s FDA-approved to treat obesity – has about 200,000 weekly prescriptions in the U.S., according to Novo Nordisk.

Even before the new tariffs, many people have found the medications to be prohibitively expensive. Without insurance, they cost about $500 a month.

It’s usually cheaper for those who can get the drug covered by their health plan. Novo says of its patients who have coverage in the U.S., 85% pay $25 or less per month.

After the tariffs take effect, the prices of importing these medications into the U.S. will go up, but who will pay that tax isn’t straightforward. Rena Conti, an associate professor at Boston University’s Questrom School of Business, told NBC News that drug companies could just raise their price list right away to offset the higher cost. Those without insurance might notice the sticker price change, but those with coverage could end up paying more in higher premiums.

“The big picture is: The cost of imported drugs is about to become more expensive for all Americans,” Joe Brusuelas, principal and chief economist for RSM US, said in an interview with Axios.

Other name-brand drugs like Botox, Viagra and Keytruda (a cancer medication) are also manufactured in Europe and impacted by the tariffs. Some drug generics were supposed to be carved out of the deal, but details were still pending as of Thursday.

When asked how Ozempic and Wegovy would be impacted by the new 15% tariff, a Novo Nordisk spokesperson told Nexstar the company “remains focused on improving patient access and affordability, and we will continue to work to find solutions that help people access the medication they need.”

The Associated Press contributed to this report.

Share this @internewscast.com
You May Also Like

Texas Legislators Approve New Camp Safety Measures in Response to Recent Flooding

AUSTIN (KXAN) The push to save lives following the deadly flooding in…

FBI: Bank Manager Created Fake Customer Accounts to Embezzle Funds

In Los Angeles, a former bank manager from two local banks has…

Six Inmates Facing Charges Following Stabbing Incident at Southwest Virginia Prison in May

WISE, Va. (WJHL) — On Wednesday, six inmates with gang affiliations were…

Bryan Kohberger Voices Concerns Over Inadequate Nutrition in Prison Meals

Bryan Kohberger, who was found guilty of killing four college students in…

$40 Million Pledged for Housing Aid Following Texas Floods

KERRVILLE, Texas (KXAN) The Community Foundation of the Texas Hill Country revealed…

DOJ Publishes Transcript of Ghislaine Maxwell’s Meeting

Editor’s Note: This story contains discussions of rape or sexual assault that…

VIDEO: ICE officials arrest a parent close to a California elementary school

ENCINITAS, Calif. (FOX 5/KUSI) — A video capturing U.S. Immigration and Customs…

Hegseth Fires Defense Intelligence Agency Leader, Lt. Gen. Jeffrey Kruse

Secretary of Defense Pete Hegseth dismissed the director of the Defense Intelligence…

Jenelle Evans Allegedly Went Out Partying, Leaving Children Unsupervised, Leading to CPS Report

Jenelle Evans, a star from “Teen Mom 2,” has caught the attention…

Trump to Deliver Mysterious Announcement from Oval Office

Not sure how to find on your TV? Find your channel here. …

Therapy Dog Thunder Shines as Top Student at California School

CHULA VISTA, Calif. (FOX 5/KUSI) At Howard Gardner Community School in Chula…

DOJ Delivers Initial Epstein Files to Oversight Committee, Releases Maxwell Interview Transcript

The Department of Justice (DOJ) has provided the House Oversight and Government…