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The FTC Has the Chance to Rein in Big Pharma

 Overview of Big Pharma's Control of Medicine

- The Federal Trade Commission (FTC) needs to monitor Big Pharma's control over necessary medicine.

- Large pharmaceutical companies are exploiting the diabetes and obesity crises for profit.

- Companies like Novo Nordisk are capitalizing on the success of treatments such as Ozempic and Wegovy.

- In 2023, Ozempic sales reached approximately $13. 9 billion in the U. S.

- Novo Nordisk reported significant sales increases, with 58% growth in GLP-1 diabetes sales and 154% in obesity care.

Market Concentration Concerns

- The GLP-1 market is dominated by two manufacturers: Lilly and Novo Nordisk.

- Lilly holds at least a 56% market share, while Novo Nordisk has 44%.

- There is a risk in being overly reliant on two suppliers, particularly with Novo Nordisk being a non-American company.

- Economic decisions by these firms impact consumers and competitors significantly.

Lilly's Telemedicine Deals

- Lilly's recent agreements with telemedicine providers raise concerns about competition.

- At a Goldman Sachs conference, Lilly spoke about reducing patient costs and improving consumer experiences.

- The company admitted to behaviors that may be anticompetitive, including exclusive contracting with telehealth providers.

- Lilly's actions may limit generic access to GLP-1 drugs and enhance its price control.

Novo Nordisk's Regulatory Maneuvers

- Novo Nordisk's decision to end its partnership with Hims caused a significant drop in Hims' stock.

- Novo claims that Hims cannot sell a generic version of Wegovy because of FDA regulations, despite no actual shortage.

- The company is pushing Hims to stop distributing personalized doses of semaglutide, despite FDA rules allowing provider discretion.

- Hims argues that Novo is improperly using the FDA designation to steer patients towards branded drugs.

Call for Investigation

- The potential anticompetitive effects of these practices warrant an investigation by the FTC.

- Commissioner Mark Meador emphasized the need for continuous oversight of competition in healthcare. 

https://www.theamericanconservative.com/the-ftc-has-the-chance-to-rein-in-big-pharma/

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