High prices for Ozempic and Wegovy, two European-made weight-loss drugs, expose our corrupted system

Ozempic and Wegovy are successful weight loss drugs, manufactured by Norsk Nordisk, a Danish company. Both are highly effective against diabetes.

Critics complain about the pricing on these drugs in the United States, compared to peer countries. The monthly cost to US patients is over 10 times for patients in the UK, which is higher still than the burdens on patients in Australia and France.

The reason for the huge price disparities, however, is surprising, and sinister: it is primarily not driven by price-gouging drug companies, but by rent-seeking US health insurers. By creating a new sub-industry called Pharmacy Benefit Managers, and demanding "rebates" from drug companies hoping to sell in the US market, health insurers get around the profit caps established under the ObamaCare law, and enjoy billions of dollars in risk-free profits, with shocking cost increases borne by American patients, hospitals, and federal and state governments.

Correction at 00:37: Novo Nordisk is a Danish company, not a Dutch company. Apologies.

Resources and links:

Here’s How Much More Ozempic Costs in the U.S. Compared to Other Countries

CNBC, Novo Nordisk’s $1,000 diabetes drug Ozempic can be made for less than $5 a month, study suggests

The Hill, The real reason drug costs are so high in America

KFF Policy Watch: Medicare Spending on Ozempic and Other GLP-1s Is Skyrocketing

New York Times, The opaque industry secretly inflating prices for prescription drugs: Pharmacy Benefit Managers are driving up drug costs for millions of people, employers, and the government

Largest American companies, ranked by revenues

Closing scene, Dalian, Liaoning province

[Inside_China_Business]

At 00:37 I misspoke, said that Novo Nordisk was a Dutch company. We corrected it in some of the edits, and in the video description. Apologies.

[jacquelineduplantier]

“Our enemies are not in Beijing. They are in Washington and on Wall Street.” 💯💯💯🙌🏾🙌🏾🙌🏾

[williamc]

I always said, we in the US dont have health care system, we have a health care industry

[MRT-cosd]

That’s why the US needs lawyers and politicians whereas the Chinese needs engineers and doctors.

[cabasadefogo]

Kevin this is a heart breaking video. As a physician I see how the system is gamed every day to the detriment of patients. Sad state of affairs. It’s no wonder they love to create boogeyman and escape goats to distract the public!

[danieltam]

Corruptions are legal in the US. Little can be done to the system that has led to top 1% of its population essentially own the country.

[alaksandrporakh]

Medical insurance in USA is total CRAP!!! 😢

[wekoweko]

truer words were never spoken, the enemy always hides in plain sight, holding your hand and pretending to be your friend, while his other hand is grabbing your wallet

[frankacheampong]

When I was in grad school in South Africa I had an American colleague that I used to play football with. One day during practice he landed awkwardly and broke his ankle. Myself and a couple of friends decided to drive him to the nearest hospital, and he was in a state about how he couldn't afford it. We couldn't understand what he was going on about so we just ignored him and took him anyway. He got treated, got his ankle set, they put on a cast and gave him a pair of crutches, some painkillers and other medication. It all came up to about R900 in the South African currency, equivalent to roughly $50 at the time. I tell you he nearly swallowed his tongue that it cost that little. Now I understand why. He would have had to mortgage his soul to afford the same healthcare in the US.

[janicetone]

Once again, thank you for Opening my eyes.
As a super senior, it is very painful to understand the sacrifices my military family gave; to support (???).
Yes, it was the "enemy within" that betrayed me.

[yaqiwang]

I had tears in my eyes after hearing your story of four hour thinking while driving. Lack of morality is a big issue for a society.

[colonylaser]

I just don't know how the US can claim moral high ground on ANYTHING, medicine, war, crime, jail, justice, education, food, homelessness.... the things that we give government authority over us, tax or imprisonment even death, if the government can provide those basic needs. I am an American, but I've grown to HATE this country.

[foodparadise]

I am a Chinese American immigrant, worked in government agency and also had my own wake up moment about the system I thought how it works but isn't. I quitted and do something else.

[felixsu]

Kevin, I find your channel to be so informative that your channel is the only one with the notification button on. Every other channel I sub to has it turned off. So thanks for your hard work.

[sonofyoutube]

i can feel your pain when you said it out loud.. "our enemy is my country ".. that's a painfull truth..

[trekpac]

I learn a great deal by listening to you, Kevin. Thanks.

[blackknight]

Kevin is emotional today...."4 hour drive" is the epiphany of today's story. Respect! 👍

[bhtansg]

Thank you for sharing this> I feel your anger and helplessness. You're a true patriot...

[jayceh]

It's simply Regulatory Arbitrage
So $1 of Wegovy generates $10 of GDP in the US and $1 EUR in France.
And this proves the US economy is doing great!

[RandomKlown]

Thanks for sharing your wake-up call, Kevin. You are spot on about who the enemy is.