Business
Ozempic vs Wegovy
(Steve Christo-Corbis/Getty Images)

Meds made by Novo Nordisk, Pfizer, Eli Lilly among those up for Medicare price negotiations

The 15 drugs include GLP-1s like Ozempic and Wegovy and were used by over 5 million Americans.

J. Edward Moreno

Ozempic is among the new slate of medications that will be subject to price negotiations for Medicare, the Department of Health and Human Services said Friday.

The Inflation Reduction Act of 2022 gave HHS the power to negotiate prices with drug manufacturers for medications covered under Medicare, a government health-insurance program for seniors. Medicare has negotiated prices for 10 drugs so far.

PhRMA, an industry trade organization, has long opposed Medicare price negotiations. In a Friday statement, the group called the price negotiations “dangerous” and said it stifles innovations. Major drugmakers have also sued the government to end the program.

The 15 drugs selected for price negotiations announced on Friday were used by 5.3 million people covered by Medicare between November 2023 and October 2024 and cost the government $41 billion, HHS said. Those medications are:

  • Ozempic; Rybelsus; Wegovy: various brand names for semaglutide, a popular weight-loss medication made by Novo Nordisk. 

  • Trelegy Ellipta: an inhaler made by GlaxoSmithKline. 

  • Xtandi: a medication that treats prostate cancer produced by Pfizer. 

  • Pomalyst: made by Bristol Myers Squibb and used to treat a blood cancer and a cancer that develops in people with HIV.

  • Ibrance: a breast-cancer treatment made by Pfizer. 

  • Ofev: a medication used to treat lung cancer made by Boehringer Ingelheim.

  • Linzess: treats IBS and constipation, made by Ironwood and AbbVie.

  • Calquence: treats certain types of blood cancers, made by AstraZeneca.

  • Austedo; Austedo XR: treats tardive dyskinesia or Huntington’s disease, made by Teva Pharmaceuticals. 

  • Breo Ellipta: an inhaler used for the maintenance treatment of asthma and chronic obstructive pulmonary disease, made by GSK. 

  • Tradjenta: used to treat Type 2 diabetes, made by Boehringer Ingelheim and Eli Lilly. 

  • Xifaxan: used to treat traveler’s diarrhea and IBS, made by Bausch Health. 

  • Vraylar: used to trade schizophrenia and bipolar disorder, made by AbbVie.

  • Janumet; Janumet XR: used to treat Type 2 diabetes, made by Merck & Co.

  • Otezla: used to treat certain types of psoriasis and psoriatic arthritis, made by Amgen. 

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Hims to stop offering copy of Wegovy pill following FDA scrutiny

Hims & Hers said it has decided to stop offering its newly launched copycat version of Novo Nordisk’s Wegovy pill, after the telehealth company drew criticism from the Food and Drug Administration. 

“Since launching the compounded semaglutide pill on our platform, we’ve had constructive conversations with stakeholders across the industry. As a result, we have decided to stop offering access to this treatment,” Hims wrote on X.

Shares of Hims are down double digits in premarket trading on Monday, while Novo Nordisk ADRs are up more than 6% as of 5:20 a.m. ET.

On Friday afternoon, the FDA said it would take “decisive steps” to restrict GLP-1 compounding. Department of Health and Human Services General Counsel Mike Stuart said on social media Friday he had referred Hims to the Department of Justice “for investigation for potential violations by Hims of the Federal Food, Drug, and Cosmetic Act and applicable Title 18 provisions.”

Hims launched the product last week, a seeming copy of a recently released and patented drug, which immediately drew fire from Novo Nordisk and regulators.

Hims & Hers Comms on X

Hims & Hers Comms on X: "Since launching the compounded semaglutide pill on our platform, we’ve had constructive conversations with stakeholders across the industry. As a result, we have decided to stop offering access to this treatment. We remain committed to the millions of Americans who depend on us" / X

Shares of Hims are down double digits in premarket trading on Monday, while Novo Nordisk ADRs are up more than 6% as of 5:20 a.m. ET.

On Friday afternoon, the FDA said it would take “decisive steps” to restrict GLP-1 compounding. Department of Health and Human Services General Counsel Mike Stuart said on social media Friday he had referred Hims to the Department of Justice “for investigation for potential violations by Hims of the Federal Food, Drug, and Cosmetic Act and applicable Title 18 provisions.”

Hims launched the product last week, a seeming copy of a recently released and patented drug, which immediately drew fire from Novo Nordisk and regulators.

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Hims, long flying under regulators’ radar, finally strikes a nerve with its Wegovy pill copy

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Roblox paid out $1.5 billion to creators last year, meaning its top 1,000 creators took home about 87% of the total pool.

Like other creator economy giants, Roblox rewards its biggest creators for their contributions to user engagement. Creator-made titles like “Grow a Garden” and “Steal a Brainrot” substantially boosted playing time over the course of the year. In September, the company increased its developer exchange rate, or the ratio of in-game currency to cash payout, by 8.5%.

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