in other words, novo nordisk and other drug companies, not just novo nordisk, can charge us as much as the market can bear. that is precisely what they are doing. now, in a few minutes, when mr. jergensen makes his presentation, we look forward to hearing from him, i suspect that he will tell us that the healthcare system in the united states is complex and that there is a difference between the list price and the net price as a result of the rebates that pbm's receive. in this committee has begun to do some serious work with regards to pbm's. and he is correct. but even factoring in all of the rebates that pbm's receive, the net price of ozempic is still nearly $600 over nine times as much is the cost in germany. and the estimated net price of wegovy is over $800. nearly four and half times as much as the cost -- what must also be understood is that not every body can take advantage of the net price of these drugs. if you are uninsured, to pay the full list price. if you have a large deductible, you pay the full list price. if you have coinsurance, the percentage of the price that you

in the united states, novo nordisk charges $969. over 15 times more than they solve that product in germany. the weight loss drug wegovy is even more expensive. as the chart behind me also shows, wegovy is sold for $265 in canada, one hundred $86 in denmark, one hundred $37 in germany, $92 in the united kingdom. in the us, the price of wegovy is $3049 a month. nearly 15 times as much as it costs in the united kingdom. what we are dealing with today is not just an issue of economics. it is not just an issue of corporate greed, but a profound moral issue. novo nordisk has developed game changing drugs which if made affordable can save the lives of tens of thousands of americans are year and significantly improve the quality of life of billions more if made affordable. if not made affordable americans throughout the country will needlessly purchase -- die and suffer. as representatives of the american people we cannot allow that to happen. let's be clear. the outrageously high cost of ozempic, lars jergensen and other prescript drugs i

novo nordisk must substantially reduce the price of ozempic in wegovy.americansic we must not rest until every person in our country can afford the prescription drugs they need to lead healthy, happy and productiveou lives." that's the op-ed from the president and myself. that is a president biden and i wrote a few months ago and that is what i believe. prescription drugs in this country must be affordable and we must not be forced to pay higher prices than people in other countries for the same exact product. this is especially true when we face a national emergency in terms of the twin epidemics of diabetes and obesity which if not addressed with lower-cost drugs to cost us tens of thousands of lives. and in hunt imaginable amount of money. congress and thed administratin have a moral responsibility to act now acted boldly and protect the american people. senator cassidy or no recognize for an opening statement too. >> nearly one in three americans live with obesity of nearly one in 10 have type two diabetes. i am a physician i'm very aware of the impl

what could results be if the pbms and novo nordisk do come to the table?argest pbm in the country is cvs caremark. they shared with nbc a letter sent to senator sanders that assures a price drop would lead to expanded coverage and expanded access. now the pressure is on novo nordisk to drop that price. >> stephanie, thanks very much. >>> coming up, who's not goth next, as women's basketball surges in popularity in college and the pros, neighborhood courts filling up from brooklyn to tokyo. rsv can severely affect the lungs and lower airways. but i'm protected (pause) with arexvy. arexvy is a vaccine used to prevent lower respiratory disease from rsv in people 60 years and older. rsv can be serious for those over 60, including those with asthma, diabetes, copd and certain other conditions. but i'm protected. arexvy is proven to be over 82% effective in preventing lower respiratory disease from rsv and over 94% effective in those with these health conditions. arexvy does not protect everyone and is not for those with severe allergic reactions to its ingredie

the ceo of novo nordisk was grilled. senator bernie sanders pointing out that the list price for these drugs is much higher in the u.s. than in other countries. look at the difference in germany or wegovy in denmark. >> the outrageously high price of these drugs could bankrupt medicare and radically increase premiums. >> reporter: and that could mean people who may need what may be life-saving drugs pmay not get them. >> is this acceptable to you? >> any prospect of patients not getting access to the medicine they need, i think, is terrifying. we don't decide the price for patients. that's set by, by insurance companies. >> reporter: he argues the pricing system in the u.s. is mostly to blame. specifically, pharmacy benefit managers or pbms that wield enormous power over the drugs and the prices patients pay, according to a study by the ftc, which says that these powerful middle men may be profiting a squeezing pharmacies. >> we got to get serious about the pbm reform. >> reporter: senator sanders announcing three of the

francine: this is the man in charge of europe's most valuable company, novo nordisk, and its blockbuster diabetes and obesity drugs ozempic and wegovy. both contain the key ingredient semaglutide, revolutionizing the weight loss market and generating billions in sales. celebrities have helped their popularity soar. sharon osbourne, chelsea handler, and elon musk have all publicly talked about taking ozempic or wegovy, and they've had further backing from oprah winfrey. it's a global phenomenon, reaching millions on social media apps, including tiktok. but it's not without controversy, including possible side effects, high prices, and the company's lobbying efforts receiving criticism around the world. and in some cases, patients might also need to take the drugs indefinitely to avoid regaining the weight. chief executive lars fruergaard jØrgensen says obesity is a disease and thinks the company will learn from its growing number of patients. lars: when i ask the scientists, they say the priority and mechanism will tell you that it's chronic treatment. my personal view is that we will als

it's a crucial market for weight loss drug makers like novo nordisk, but challenges remain.he company's patents expire in the u.s. and the e.u. at the end of the next decade, and rival drugs are already emerging, like zepbound by eli lilly. i asked the chief executive, lars fruergaard jorgensen, about regulatory pressures and future growth. so, how do you think about pricing? again, you must have gotten some difficult questions from governments, but also, this goes back to innovation. lars: most products are priced according to the value they bring. and i feel really good about the value of our medicines, what they bring to the individual patient, but also the value to the health care system. and we have, today, health care systems around the world who were typically designed for acute care. but finding that 80% of the cost in the health care system is linked to chronic care. and we have a portfolio of products that are really addressing some of the chronic diseases of our day and age. diabetes, obesity, and the comorbidities that follow that. we know that there are projecti

. >> novo nordisk is not the villain in this story. they're a hero. we should be here celebrating this miracle innovation. >> the ceo of novo nordisk, the maker of the drugs, was asked why americans are being charged so much more compared to patients in other countries. the company charging $969 per month for ozempic before insurance and rebates, compared to $155 in canada and 59 in germany. wegovy cost more than $1,300 per month, compared to 265 in canada and 137 in germany. >> and my question is why? >> the ceo blamed the u.s. health care system, arguing that middlemen, so-called pharmacy benefit managers, are the ones who negotiate costs and get in the way of passing on discounts to customers. >> there is a market. we have to operate in, and we negotiate hard to make sure that americans have access. >> a recent ftc report found pharmacy benefit managers or pbms significantly control drug prices, and the agency has targeted the three largest pbms in a lawsuit over insulin costs. when it comes to ozempic and wegovy, senator sanders says the pbms are

i'm supportive of. >> after the hearing, novo nordisk's ceo wouldn't commit to lowering prices.lower the price of these drugs in the united states? but the company did release a statement saying in part. unfortunately, the reality is that even when we reduce prices, as we have with both ozempic and wegovy, patients in the u.s. are left paying a price that does not reflect the reductions. i felt like the language of our senators was very much centered around understanding that obesity is a disease in terms of the. the ceo. i felt like his answers, oddly, were pretty forthcoming. kim has been on multiple medications over the past two years, due to insurance requirements, but says she's had the most success on ozempic. so it wasn't just like my body was healing, my mind was healing my everything. and it just changed everything for me. she started a podcast called plus sides. hey, rosie. >> hi, everybody. welcome to the scrappy podcast to teach others about the benefits of these types of medications and share how their lives have changed. >> you know, this is a miracle drug in the a

the senator says he's been pressuring novo nordisk for months. you have these conversations with them. you saying, look, i'd like you to lower the drug price by 50% or 40% or 20%? >> i'd like them to not charge us any more than they are charging on average people in other countries. >> reporter: and their response to that is -- >> it's complicated. you have a very complicated health care system in america. we're working on it. >> reporter: the company told us that 99% of commercial health care plans in the u.s. cover ozempic, and about half the plans cover wegovy, and that 80% of u.s. patients with insurance pay $25 or less per month for the prescriptions. but some employers have stopped covering the drug because of the high cost combined with high demand. in april, north carolina stopped covering weight loss drugs, including wegovy for state employees like traline williams. >> once they terminate it, the coverage, it was just like a train hit me. >> reporter: williams works in i.t. for state agency. morbidly obese in 2009, she had bariatric surg

and the fact these can be severe even if it's in a rare case. >> reporter: novo nordisk declined to doon-camera interview, but in a statement said the known risks of the medicine are known and described in the labeling. the company wrote the allegations in these lawsuits are without merit, and the company intends to vigorously defend against these claims. many doctors do regard the drugs as key tools for patients. cbs news medical contributor and kff health editor at large dr. celine gounder. >> they are game changers in many ways. not only are they helping people lose weight, control their diabetes, but we're seeing improvement in many medical conditions which are related to being obese or overweight. but at the same time, patients do need to be aware that there are risks. those are not necessarily risks that are outweighed by the benefits in every situation. >> reporter: a study published risk of bowel obstruction and stomach paralysis for patients taking certain glp-1 drugs for weight loss when compared with another weight loss drug combination. those complications were relatively r

we'll see. >> coming up, what to expect from novo nordisk. as lawmakers are looking to ask questions on the high prices for the weight reduction dgsru. that has been the case thus far as we wrap up the months last week. i can't believe you corporate types are still calling each other rock stars. you're a rock star. we're all rock stars. oooo look look at my data driven insights, i'm a rock star. great job putting finance and hr on one platform with workday. thank you! guys, can you keep it down. i'm working. you people are (guitar noises). hand over the air guitar. i've got another one. why choose a mobile network built for places you'll probably never be... ...instead of for where you are most of the time? xfinity mobile was designed for where you need it most. xfinity internet customers, ask how to get a free 5g phone and a second unlimited line free for a year. to testify on we ggovy and ozemc prices. >> novo's ceo is planning to make the case that ozempic and wegovy is worth paying for. saying no single company can solve the challenges of

so, novo nordisk is down 9% this month, so, is this an opportunity, do you think? >> well, what i thought was really interesting, when you listen about the pbms and the transmission mechanism from the makers to the consumers, like, three of these names, i think it's express ship, cvs/caremark and optum-rx, it's like 80% of the market the way the drugs get passed onto consumers in europe, it's different. so, roll those guys up to the hill >> that's v123, to answer the novo question, that's just sort of line in the sand, which, you know, what it gives you something to trade against i don't think they report until early november, i don't know if that's a catalyst or not, but that's a level i would trade from the long side >> lilly at the end of october here >> lilly's outperformed novo, too, so, maybe that's their alzheimer's portfolio, maybe it is, again, the diversity i still think these are names that are going to trade ahead of the pack as much as i also own some of the, call it the -- not even second tier, they're the la laggards, j&j, pfizer, bristol myers. i th

the ceo of novo nordisk is expected to be on the hot seat in front of the senate health committee tomorrows company makes ozempic and wegovy. the ceo will likely be grilled about prices by senator bernie sanders, who harshly criticized novo nordisk at a roundtable last week as important and groundbreaking as these drugs may be. >> they will not do any good for the millions of people who cannot afford them. a drug, no matter how great it may be, does not mean a thing. if you cannot afford to buy the product. >> sanders says the ceos of major generic pharmaceutical companies have told him they can produce and sell ozempic for less than $100 a month, but it's expected novo nordisk ceo will blame prices on the pharmacy and insurance systems. now, this comes as the cdc shares brand new data showing obesity is dropping in the united states. more than 40% of adults 20 and older were estimated to be obese between august 21st and august of 23. that's down about one point from the last study, though still higher than a decade ago. the rates of obesity and severe obesity were highest among people bet

the ceo of novo nordisk is expected to be on the hot seat in front of the senate health committee tomorrow. the ceo will likely be grilled about prices by senator bernie sanders, who harshly criticized novo nordisk at a roundtable last week as important and groundbreaking as these drugs may be. >> they will not do any good for the millions of people who cannot afford them. a drug, no matter how great it may be, does not mean a thing. if you cannot afford to buy the product. >> sanders says the ceos of major generic pharmaceutical companies have told him they can produce and sell ozempic for less than $100 a month, but it's expected novo nordisk ceo will blame prices on the pharmacy and insurance systems. now, this comes as the cdc shares brand new data showing obesity is dropping in the united states. more than 40% of adults 20 and older were estimated to be obese between august 21st and august of 23. that's down about one point from the last study, though still higher than a decade ago. the rates of obesity and severe obesity were highest among people between the ages of 40 to 59 years of

find your fit at wt.com (♪♪) >>> all right, coming up next know novo nordisk next.it's basically tennis for babies, but for adults. it should be called wiffle tennis. pickle! yeah, aw! whoo! ♪♪ these guys are intense. we got nothing to worry about. with e*trade from morgan stanley, we're ready for whatever gets served up. dude, you gotta work on your trash talk. i'd rather work on saving for retirement. or college, since you like to get schooled. that's a pretty good burn, right? got him. good game. thanks for coming to our clinic, first one's free. >>> cnbc senior marks commentator mike santoli here to break down the crucial moments of the trading day, big moves and novo nordisk today and ibm hitting a record high for the first time in a decade mike, you missed a day >> yeah. i've been tracking it but many people maybe would be surprised to see the green it's very hard to assign any specific sequence of cause or even to decide if this is a decisive reversal or not a few things happened that seemed to set things up. the reaction to the cpe report, that a quarter-poi

when you question the novo nordisk ceo, what answers will you be after?rican people 10 or 15 times more for the same exact product that he's charging people in europe, canada, and elsewhere. and i think basically he may say it, he can do it in the united states because he can get away with it. other countries have strong laws and they negotiate prices. in america historically, until very recently. drug companies could charge us any price they want. and in the case of ozempic and wegovy, we're dealing with the need to deal with epidemics, and diabetes and obesity. costing us lives, costing us a lot of suffering, and huge amounts of money, treating these illnesses. so you have a good drug, they have got to make this drug affordable for the american people, so we can begin to deal in an effective way with diabetes and obesity. >> novo nordisk argues the net price of ozempic after discount and rebates has declined 40% since this drug was approved in 2017. what do you make of that argument, that the prices have come down and they could fall even more? >> first

. >> the ceo of novo nordisk, the maker of ozempic and wegovy, is set to testify in person. company stresses the massive investment in research and manufacturing for these drugs, and points out that more than 80% of u.s. patients with insurance coverage for ozempic or lugovi are paying $25 or less for each prescription, but many private insurers and medicare don't cover weight loss drugs used for obesity. >> the demand has got to be substantially lower. the cost of your product and not charge us 10 to 15 times what you're charging people in other countries, novo nordisk recently committed $30 billion to increase manufacturing capacity for these drugs, and it spent 4 billion last year in research and development for future treatments. >> the faa says it has exceeded expectations in terms of hiring air traffic controllers, but it still needs more. the agency hired more than 1800 controllers in the past year, slightly above its goal, but officials say there is still a shortage. in may, the faa said it was short about 3000 controllers. the shortage has led to increased delays. >

on tuesday, the ceo of pharmaceutics company novo nordisk testifies on his company's drugs. the ceo of crowdstrike testifies before a house subcommittee on the global impact of crowdstrike's software. and on thursday, the task force on the attempted assassination of former president trump hold a hearing on the

. >> >> novo nordisk's response? >> we don't decide the price for patients. that's set by insurance companies. >> the hearing ended without a commitment from novo nordisk to lower pricing. >>> a front is moving across the country this morning. angie lassman is back, tracking the temperatures in addition to the hurricane threat. good morning, again. >> we for sure are watching this front as it brings the potential for flooding across much of the east today. that's ahead of what we're expecting as we go through the next couple diays because of helene. we've got record highs on tap potentially through the afternoon hours today across parts of the southwest. here's just a look at those temperatures. 108 in phoenix. we'll see a high of 78, denver into the upper 80s. this will continue into tomorrow. 9 90s for albu he forecast for washington, d.c. columbus ends up at the upper 70s. and that's a look at your forecast, frances, back to you. >> okay, thank you, angie. >>> "early today" is back in a minute with what's dragging down consumer confidence in the economy. >

the ceo of novo nordisk is heading to testify today. anjelica peebles is joining us.s are we expecting fireworks? >> reporter: good morning, frank. bernie sanders will grill the ceo of novo nordisk on the high cost of ozempic and wegovy. sanders calling out the prices of this in the u.s. over other countries. the price of wegovy is $1,300 a month here. in denmark, it is $160 and in uk, $92. we know the pharma companies give discounts to the pbms. the net price of ozempic has come down since the drug was approved in 2017. wegovy is following a similar trajectory. americans paying out of pocket are not getting discounts. if you are a senior on medicare, you are paying out of pocket. there are many people feeling the squeeze. that's why there is so much attention on this today. novo ceo lars fruergaard talks about the length of the pbms and the role the middlemen may in the health care system. he does ann't address the price ozempic and wegovy here. >> it should be interesting with the popularity of the weight loss drugs. thank you very much. >>> coming up on "worldwide

on tuesday, the ceo of pharmaceutics company novo nordisk testifies on his company's drugs. the ceo of crowdstrike testifies before a house subcommittee on the global impact of crowdstrike's software. and on thursday, the task force on the attempted assassination of former president trump hold a hearing on the investigation of the secret service's security failures and its reliance on state and local law enforcement. watch this week live on the c-span network, or on c-span now, our free mobile video app. also, head to c-span.org for schedule information. watch live or on-demand anytime. c-span, your live view of government. sman dan newhouse, a republican of washington, and appropriations committee member and a member of the committee on u.s.-china competition. representative newhouse, good morning. guest: good morning. good to be with you. host: wanted to start with the latest on the continuing resolution. where does it stand in the house and what do you think needs to be done? host: we voted on that and it failed, and it was a cr until next month which included provisions

novo nordisk ceo lars jorgenssen placing the blame on pbms. he calls them powerful middle men. oesn't control what patients pay for medications. the price of ozempic has come down since launching and wegovy following the similar trajectory. the price of ozempic is expected to make the list next year. becky. >> that's interesting on a couple of levels. first of all, they are saying it is the pbms. there are problems with the pharmacy benefit managers now owned by insurance companies which changed drastically what they used to be which was supposed to be the middle man to bring plerices down. that is not the case and not happening. the second case is don't worry because you will make us bring the prices down soon anyway? >> it is interesting you bring up both of those points. that came up over and over in 20 pages of testimony that we read yesterday. like you said, he is saying that ultimately they want pbms to cover the drugs. they want them to pay for obesity drugs and it is the pbms who decide what the patients pay at the end. if people are not getting this covered, it's not ou

novo nordisk, diabetes drug larsen peak.os unidos y en más temas de salud. expertos han detectado una nueva variante del covid 19 y la están llamando sec xs. pasamos con balbino avilés. habló con un médico, quien ofrece consejos para evitar el contagio. actualmente representa el 13% de las muestras de coronavirus en alemania. hablamos de la subvariante sec con la nueva temporada de invierno de infecciones de covid. estamos viendo surgir otro nuevo variante xs. este nuevo variante ya es el dominante en europa, que está causando la mayoría de los casos y los expertos piensan que aquí en los estados unidos va a ser el variante dominante en los siguientes meses. esta nueva cepa, asegura el doctor chávez, es parecida a las anteriores. lo único que los expertos dicen es que se ve que es un poco más contagioso, pero ellos no piensan que va a tener síntomas más severos. de covid y nunca me ha dado covid, entonces sigo mi vida normal. cómo se vacuna? no me vacuno nada. las opiniones en nuestra comunidad en este tema siguen divididas.

we'll tell you why novo nordisk is in the red, next. the "clayman countdown" returns, dow jones industrials up nearly 200 points. [coughs] when caroline has a cough, she takes robitussin. so, she can have those one on ones again. hey jim! can we talk about casual fridays? oh sure. what's up? get fast, powerful cough relief with robitussin, and find your voice. ♪robitussin♪ (♪) (♪) (♪) (♪) ♪ ♪ with so much great entertainment out there... wouldn't it be easier if you could find what you want, all in one place? my favorites. get xfinity streamsaver with netflix, apple tv+, and peacock included, for only $15 a month. liz: we've got a fox market alert here. take a look at novo nordisk at the moment it's one of the makers of obesity blockbuster drugs getting blocked by investors. novo nordisk shares are losing nearly 3% at this hour after a jpmorgan analyst warned that third quarter sales of its weight loss drug wegovy could be weaker-than-expected. these things were the hottest drug around. nobody could get their hands-on them but jpmorgan

if novo nordisk reduced the list price. the ceo agreed to meet with those pbms to discuss lowering prices. nfl hall of famer brett favre announced he is battling parkinson's disease. favre revealed his diagnosis during a hearing on capitol hill earlier this morning. the house, ways and means committee is investigating whether he improperly used welfare funds into his alma mater, the university of southern mississippi, as well as research into a concussion drug. he mentioned the disease in his opening statement. while he denied any wrongdoing. sadly, i also lost an investment in a company that i believed was developing a breakthrough concussion drug i thought would help others. and i'm sure you'll understand why it's too late for me, because i've recently been diagnosed with parkinson's. this is also a cause dear to my heart. the doctor running that program pleaded guilty to fraud for using welfare funds. an emotional week for bay area sports fans. the oakland a's begin their final series at the coliseum tonight. that means

for example, novo novo nordisk charges about $1,300 a month for wegovy. compare that to european countries, where you can purchase the drug for as low as $92 a month. senator sanders made the remark at an expert roundtable, which serves as a preview to the testimony of novo nordisk ceo. today reports that pharmaceutical company expects ozempic and similar weight loss drugs will, quote, very likely be on the u.s. government's 2027 list of price negotiations. the fda just expanded the approval of a new drug that treats breast cancer. the drug is called kisqali. it treats patients with earlier stages of the disease. doctors say about 30% of breast cancers come back, but according to a clinical trial, this drug reduces that risk by 25%. after three years with additional treatment like chemo and surgery. the downside here it isn't cheap. oncologists say the out of pocket cost for three years of treatment is about 300 to $400,000. the new apple watch series ten will hit stores on friday. here are some of the updates. a slightly thinner design. a bigger screen w

>> novo nordisk charges americans with type two diabetes $969 per month for ozempic, compared to other countries like canada and germany, pay far less. americans struggling with obesity pay even more for wegovy $1,300 a month. sanders says the company has made $50 billion from the drugs. >> we are very committed to make sure that americans have access at an affordable price point for our medicines. >> the company also says the high costs go toward developing and manufacturing the drug. >> we launched ozempic in 2018 and we have had it on the market for some years. during those years, our price has declined by 40%. >> ultimately, lars jorgensen blamed the u.s. health care system. >> it is a very complex market and very complex health care system that creates a lot of misunderstandings. >> the novo nordisk ceo blaming pharmacy benefit managers and industry. he says, can hike the cost of drugs even when the company tries to make it affordable. tim pulliam, abc news, los angeles. >> at the end for the a's at the oakland coliseum, we're just a couple hours away from the first pitch of the l

the ceo of novo nordisk, the maker of ozempic and wegovy, is set to testify in person. >> the companyesses the massive investment in research and manufacturing for these drugs, and points out more than 80% of u.s. patients with insurance coverage for ozempic or wegovy are paying $25 or less for each prescription, but many private insurers and medicare don't cover weight loss drugs used for obesity. >> the demand has got to be substantially lower. the cost of your product and not charge us 1015 times what you're charging people in other countries. >> novo nordisk recently committed $30 billion to increase manufacturing capacity for those drugs. >> coming up, how much someone just paid to buy a piece of tv history? the couch from friends. >> a lot of money. also ahead, >> a lot of money. also ahead, one surfer's incredible wipeout ♪ stay ahead of your moderate-to-severe eczema. and show off clearer skin and less itch with dupixent, the #1 prescribed biologic by dermatologists and allergists, that helps heal your skin from within. serious allergic reactions can occur that can be severe.

know novo nordisk gaining on it latest weight loss drug data how it stacks up against the competition, and what it means for the obesity drug wars, next. >>> and, sticking in the drug space, one bio tech stock surging this week, as new lung cancer data beats out a key competitor the co-ceos lay out the details, and what it means for the company's future you're watching "fast money," live from the nasdaq market site in times square. we're back right aft ts.erhi ♪ oh in a factory, there was a glove ♪ ♪ a tougher kind of glove, ♪ ♪ like you never did see... ♪ ♪ now the cloth is strong ♪ ♪ stronger than the flames ♪ ♪ the flame is in the heart ♪ ♪ and the heart is in the work ♪ ♪ the work builds the life ♪ ♪ where we're safe at home... ♪ jpmorganchase invests in manufacturing to help create stronger communities. ♪ make the green grass grow all around all around ♪ ♪ make the green grass grow all around ♪ ♪♪ awkward question... is there going to be anything... -left over? -yeah. oh, absolutely. (inner monologue) my kids don't know what they want. you know who knows what she wants? me! with

chris, thank you >>> up next, ceo of novo nordisk on capitol hill, the big debate over weight loss druginto high year michelle ross is back, talking about health care stocks on the move jooishgsz . >>> fight over drug prices heating up on capitol hill as ceo of novo nordisk faced harsh criticism from lawmakers over the cost of ozempic and wegovy. >> the out yarageously high cosf ozempic, whegovy is related to the cruel and dysfunctional health care system in our company. huge profits for insurance companies and huge profits from pbms >> joining us now, stempoint capital cme and novo nordisk hol holder, michelle ross. what do you make of the calls and what do you think it means for the stock? >> let's start by saying what happened today isn't anything new. we've heard these arguments before it's very valid. i think that clearly it deserves a new market that's coming together and forming with the glp-1s and what they mean for that system is troubling to many i think you can't just have one group up there talking about this and the the inefficiencies. senator sanders called out the pbms as

william: chairman bernie sanders pressed the ceo of novo nordisk about why americans pay so much moreugs compared to other nations. >> the net price of was imp it is still nearly 600 dollars over nine times as much as the cost in germany. the estimated not price up we go week is over $800, 4.5 times as much is it cost there. william: the ceo defended his danish firm, pointing the finger for high costs principally at the u.s. health care system. >> we don't do sized -- decide the price formations. william: he specifically blamed what are known as pharmacy benefit managers. they act as third-party middleman between drug companies on one side and insurers, pharmacies and hospitals on the other. often determining which drugs get covered and at what prices. >> insurance companies can more than double or actually triple profits. william: he argued those prices are high because novo nordisk has obtained rebates to ensure the drugs are covered. more expensive drugs need higher rebates. sanders said he received pledges that would change that equation. >> they would substantially lower the uses

announcer: senator bernie sanders is calling on the form company novo nordisk to cut prices for drugsn th

what's putting pressure on know voe nor disc -- novo nordisk to.cial moments of the trading day heading into the close. angelica, talk to us about novo nordisk. >> those shares are down 3 1/2%, after bernie sanders said generic drug makers could sell ozempic for less than $100 a month and still make a profit. this is a preview of what's to come when he testifies. also today, a novo executive saying it's likely ozempic will be one of the next drugs medicare will negotiate a price on. medicare recently getting authority to negotiate with drug makers on some drugs, and analysts widely expect that ozempic will be in the negs ro next round. they can't speculate on which medicines will be selected for future negotiations. we'll see what happens when we get the next list in february. mike. >> i note lily down 2%, perhaps related to that. seema, incredible spin layoff. >> that debate helping as well. analysts at bank of america are raising their price target on ge from 200 to $300 a share. you don't see that often citing the acceleration in u.s. electricit

novo nordisk is not the villain in this story.o and some republicans defended the drugmaker arguing congressional interference could stifle medical innovation and her businesses who deserve to earn a profit. sometimes we live in a fantasy land, which is we want you to invest in the industry generally to invest mass amounts of money. >> but then we want to keep the prices low. >> and novo nordisk says most americans who get the drugs under insurance only pay around $25 a month in washington. i'm hannah brandt. >> all right. let's talk about the forecast today. a much needed break from the heat. yes, thankfully the marine layer of the ocean air-conditioning coming on and turned all the way up today after having a chance to rest the past few days. we're looking at a lot of that low gray pushed in right here in the east bay hills. it's from where we were the past couple of days for sure. and you will notice that more and more this afternoon yesterday we saw the fog at the coast today. it's low gray for pretty much all of us compoundin

that tracks will lilly's pill but well below the 15% that novo nordisk tell graphed. side effects. people taking the pill experienced psychiatric side effects like anxiety, irritable and trouble sleeping. the higher the dose the larger the rate of side effects. novo and others are trying to overcome the risk by targeting cb-1 recenters outside the brain. novo not giving up on the pill saying more research is needed to find the right dose to maximize safety and efficacy. it's planning a larger phase 2-b study for the next year but there's doubts about the mechanism now. >> how is it different from the older versions. sanofi had a drug that was approved for weight loss but pulled off the market because of the neuropsychotic side effects. how is this cb-1 drug different from that one that got pulled? >> this drug goes after the peripheral receptors trying not to get into the brain. getting into the brain caused the side effects and if you can avoid that you can avoid the side effects. that remains an open question. >> angelica, thank you. >>> all right. so this is an att

the chief executive of novo nordisk — best known for weight—loss drugs wegovy and ozempic — was grilledn the united states. senators accused the company of treating the us like a "cash cow" by pricing the drugs at over 15 times that of europe. the company did not commit to cutting prices, but said it would work towards helping patients. over in australia, where its consumer watchdog has sued the country's largest supermarket chains. the accc says coles and woolworths broke the law by temporarily raising prices of goods, before lowering them for weight—loss drugs wegovy and ozempic — was grilled at a senate hearing in the united states. senators accused the company of treating the us like a "cash cow" by pricing the drugs at over 15 times that of europe. the company did not commit to cutting prices, but said it would work towards helping patients. over in australia, where its consumer watchdog has sued the country's largest supermarket chains. the accc says coles and woolworths broke the law by temporarily raising prices of goods, before lowering them to either the same or higher than or

on thursday at the ceo of the danish pharmaceutical company novo nordisk testifies before the senatelth committee on his company's high prices. also on tuesday senior vice president for counter adversary operations at crowdstrike testifies before a house cybersecurity subcommittee on the global impact of a faulty software update. on thursday the task force on the attempted assassination of former president donald trump hold its hearing on investigation into secret service security failures and its reliance on state and local law enforcement. watch next week live on the c-span networks or on c-span now. head over to c-span.org for scheduling information or watch live on demand anytime. c-span, your unfiltered view of government. ♪ >> the house will be in order. announcer: this year c-span celebrates 45 years of covering congress like no other. since 1979 we have been your primary source for capitol hill, providing balance, unfiltered coverage of government, taking you to read the policy is debated and decided all with the support of america's cable companies. c-span, 45 years and coun

lauren: it's on par with novo nordisk's pill, all experimental at this point.iking therapeutics reduced weight loss by more than 3% after one month, similar to novo nordisk and jpmorgan initiated at a buy with a price target of $80, so go up 46% from yesterday's close. stuart: well a pill is a very attractive item. lauren: i know. stuart: i see a premier league soccer team on the screen. manchester united down 6%. lauren: they reported a wider loss, lower revenue in the quarter and their fifth straight year of losses. stuart: they aren't doing well recently but that's another story. lauren thank you very much indeed. now this. before last night's debate, a study by the media research group found 100% of abc's coverage of kamala harris was positive. 93% of trump's coverage was negative. well that was turning out to be an accurate pointer as to how abc's moderators performed last night. you want to handle a debate you have to be fair. forget your own opinions and treat both sides equally. last night abc was not fair. first of all the questions were stacked agains

pick ceo on capitol hill, vermont senator bernie sanders slammed drug maker novo nordisk for what he described as outrageous lehigh prescription drug cause. it's not just an issue of corporate agree. it is a profound moral issue. according to an investigation, sanders lead americans pay around $1000 a month for the popular diabetes and weight loss pick and we go over 15 times more than they sell in germany. sanders asked the ceo 4 times to explain why americans are charged not answering my question. ultimately he blamed the high cost on the middlemen insurance companies and pbm to negotiate prices is a very complex and markets and their complex health system. >> that creates an honest misunderstanding. republicans who agree the problem lies elsewhere quickly came to the ceos, defense novo nordisk is not the villain in the story. they say cause mandates would only undermine company profits in turn, prevent more life-saving drugs from coming to market. sometimes we live in a fantasy land. >> which is we want you to invest that we want to keep the prices low as that reality. >> the ceo

you've got sanofi down 1%, novo nordisk down 5.7% and eli lilly up about 1.25%.usiness, shares of us homebuilder lennar are on sale the stock is getting nailed down even after reporting a third quarter earnings beat. what's to blame for the drop? lennar forecast weaker-than-expected gross margins for the fourth quarter related to buyer incentives. so when you incentivize people to buy, and incentive them by cutting price, your margins go down. the ceo does remain confident a stronger more broad-based demand cycle is ahead. lennar down 5 and one-third percent. fair to say high end home and furniture office and furniture maker hopes so too, and herman miller office chairs among its brands blaming a weak housing market for its disappointing results. the company swung to a loss in the fiscal first quarter, missed on revenue, and provided weak second quarter guidance. on a bright note, their recent investments in operational capabilities are driving significant margin improvements. still, investors are fleeing the stock it's down about 13.6%. sellers are also chipping

. >> novo nordisk's ceo lars jorgensen blamed the u.s.e industry for the high costs. he said when his company dropped the price of insulin, insurance companies stopped covering it. we'll be right back. if you have heart failure, farxiga can help you keep living life with the ones you love. ask your doctor about farxiga today. farxiga can cause serious side effects, including ketoacidosis that may be fatal, dehydration, urinary tract or genital yeast infections, and low blood sugar. a rare, life-threatening bacterial infection in the skin of the perineum could occur. stop taking farxiga and call your doctor right away if you have symptoms of this infection, an allergic reaction, or ketoacidosis. ♪ far-xi-ga ♪ ♪ febreze man: i don't about y'all, but when it comes to working from home, i gotta have every part of my house clean. that means tidying up, then spraying my febreze air mist, to leave every room smelling fresh and clean. with that done, it's time to get to work. ♪ la la la la la zyrtec allergy relief works fast and lasts a full 24 h