Novo, Lilly Slip as Biden Demands Price Cuts on Blockbusters

Biden demanded price cuts on obesity drugs due to the "unconscionably high prices" charged by pharmaceutical companies like Novo Nordisk and Eli Lilly, which contribute to rising healthcare costs for millions of Americans1. He argues that if these companies refuse to lower prescription drug prices, it could potentially bankrupt the American healthcare system.

President Joe Biden criticized Novo Nordisk A/S and Eli Lilly & Co. for charging "unconscionably high prices" for their weight loss and diabetes drugs in the US, which are above those paid in other countries. The specific prices were not mentioned in the article.