High prices for Ozempic and Wegovy, two European-made weight-loss drugs, expose our corrupted system
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- Опубліковано 5 вер 2024
- 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
www.healthline...
CNBC, Novo Nordisk’s $1,000 diabetes drug Ozempic can be made for less than $5 a month, study suggests
www.cnbc.com/2...
The Hill, The real reason drug costs are so high in America
thehill.com/op...
KFF Policy Watch: Medicare Spending on Ozempic and Other GLP-1s Is Skyrocketing
www.kff.org/po...
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
www.nytimes.co...
Largest American companies, ranked by revenues
companiesmarke...
Closing scene, Dalian, Liaoning province
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.
Yes, Novo is clearly a Danish company
Yes it’s a Danish company, Scandinavian. 😊
One of your best video! Totally agree with the statement at the end! ❤😢
Huawei is a criminal organization
Misspeaking happens to everyone - but not everyone immediately or ever corrects it!
“Our enemies are not in Beijing. They are in Washington and on Wall Street.” 💯💯💯🙌🏾🙌🏾🙌🏾
So true. The US government is ALL about the profits, human life, safety, affordability means nothing to them
Absolutely
Sadly, successive US governments have shifted their domestic problems onto other countries, including the future new administration. Just listen to Vance's speech. Everything is blamed on China. Americans have no ability for self-reflection, no wisdom and no courage to confront the problems of their own system. They shift the problems onto China and Russia thousands of miles away. Americans like to solve domestic problems through external wars, which is like looking for fish on a tree. On the contrary, wars will only push up global prices and intensify global warming, doing no good but all harm! But they don't care about that. They only hope that the US military-industrial complex can make money. Have their mega donors made money. Suppressing foreign enterprises is only to ensure that their big money backers have no competitors internationally, so as to obtain monopoly profits and thus ensure that their kickbacks and political activities have sufficient funds. The media keeps fanning the theory of China threat for the same purpose. The media hopes to gain more click rate data traffic and mega donors during this process. The whole US system is completely rotten and evil!
That’s why the US needs lawyers and politicians whereas the Chinese needs engineers and doctors.
Wall street really a talent sink. A lot of America's brightest minds in STEM (i.e Mathematics, Statistics, Analysis) goes to wall street to think up new financial instruments that don't add actual value.
I always said, we in the US dont have health care system, we have a health care industry
In two documentaries by PBS in 2008 and 2009, respectively -- The Sick around the World, The Sick around America. These phrases have appeared. One of the interviewees from Taiwan, back then, said, "in the US health care is not a system, it is a 'market.' " That rings the bell again when seeing you say it here.
Unfortunately true
Health care cartel*
"Pharmafia" though I need a term that includes insurance and PBMs.
Medical insurance in USA is total CRAP!!! 😢
Medical treatment is crap. Take a pill, get surgery, all bogus.
The problem started with The HMO Act when Nixon was PotUS. During Nixon's White House discussions which convinced him to sign it into law was the words: "the less care they give, the more profit they make"
The problem is that the system is profit driven. If it was purpose driven, you would have a lot cheaper and much better system that benefitted everyone.
Lots of tag-alongside make their presentations at the employers break rooms - how to steer your foink deductions towards black rock, how to drag your employer along with matching contributions, how to supplement the health insurance with an add-on, how to navigate the workplace injury rigamarole, how to read the hazardous substances readouts that you’re exposed to, how to understand the workplace incident grading system, how to take a drug test immediately following an incident, how much your employer has to do for you . . by the time all of these considerations are considered considering that your pay after taxes means you’re on payment schedules with lenders interest rates for your vehicle your house and more, it’s a slightly above broke existence the whole time and all of the risk is on you.
do you know that Blue Cross/Blue Shield used to be non-profit? the pols and media convinced us let the market, or competition will bring cost down and get better results. LOL privatization will keep public service cost down.
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!
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.
China spent much of its time fighting corruption so that its people would not have to have selfish people lead them. Just goes to show the differences between American society and Chinese society.
Heh, don't worry you'll sort it out fast once 99% is finally out of money.
china 👈 DICTATORSHIP
@@Ludak021ruSSia 👈 DICTATORSHIP
Corruption is not only accepted but widely admired by those wearing small.
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
💯🎯👏👏👏
Here's 50 cents wumao 😂
@@joelturley4847
Name calling is all your good at. No wonder the west is going down the drain.
I wonder how long Americans will continue to tolerate a system of incompetent governance that purposefully works against their interests.
@@joelturley4847 thank you, do you have more?, why u FUKING CHEAP?
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.
Same.
Same here.
Lack of integrity and humanity in the USA
what you are witnessing is western decay through years of z1onist infiltration and corruptions.
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.
Trumpovich is a 5 time draft dodger 😡
i can feel your pain when you said it out loud.. "our enemy is my country ".. that's a painfull truth..
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.
This article shows just how much that would "cost" in today's USA (2022 data) " A cost analysis of ankle fractures treated by orthopedic surgeons with or without foot and ankle fellowship training at ambulatory surgery centers and hospitals " Can't link owing to YT "policy", however the costs range from $12,315 (outpatient management only) up to $96,697 (inpatient stay, operative management).
@phils4634, really? Are you serious?
Utter digust. Here in Laos that cost might be $20
@@dessiemelza6330 Type the text into Google and see for yourself. The article is one of the SAGE Journals Open Access series.
Had a motorcycle wreck in 2005. Aortic tear. Helicopter ride 10,000. Heart surgery and 7 day stay was 90,000, reconstructive knee surgery and rehab was 51,000. I had health insurance that was around 175 a month. I was 20 so the premium was cheaper. Deductible was 5000 though. So the first 5000 you pay out of pocket. That resets annually. Then Obamacare happened and costs slowly went nuts. I got married when I was 30 and got a letter from the insurance company it was going to 500 a month. Was in the emergency room a couple months ago and got 11 stitches in my forehead. 30 min. In and out. 650 dollars. Had a seizure in 2013 and went to the er for observation because I had no idea what to do. They just looked at me. Figuratively and literally. 1800 dollars. I don’t get it.
the enemy is within
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.
True but keep in mind that in the U.S. the government works for the giant corporations so they can maximize their profits -- no matter what cost to average Americans. This is a plutocracy and we've lost control of our government as it works for the highest bidder -- not the voter.
How can we claim the moral high ground? Because we are shameless, ignorant, stupid, or all 3.
US elites has a mischievous and machiavellian streak in everything they do.
That's why the Chinese said the US cannot come from a position of strength. They do not have legitimacy in any of their claims anymore.
I wanted to move to the US as the land of freedom and opportunity in the early 90s, after 9/11 it was clear to me I never wanted to move there as I started to understand what a terrible corrupt place it is… 😅 Only if you’re in the top ~o.1% would you want to be there
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.
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!
Except you got a 35 trillion debt.......... so where is the money? Why is most of the senate and congress filthy rich? Why are there so many poor Americans and the homeless is shocking!
@@johntaylor3298 regulatory arbitrage is a great way to enrich the political and capitalist class
All billionaires welcome 🤗 government for sale!
@@johntaylor3298 It's the skim or harvest. GDP is doing great & so is stock exchange. Now we know where at least some of the wealth shows up.
It’s systemic looting of the US citizens.
it's 200x from the base product!
The story of America is already a cautionary tale to other countries about how horrible a country can be.
The US is doomed on so many levels
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.
Hi Felix. Regarding finance there is another channel IMO is also reliable. Cheers.
ua-cam.com/video/2_HynwaRBkY/v-deo.html
This is exactly the sane reason decades ago when I first got my driver's license. Why MUST we pay insurance companies directly to be able to drive legally instead of the state/province or our local government directly. The funds could go back and pay for infrastructures (hopefully). Instead, it goes into finance corporations' pockets. Creating wealth from nothing and THEN it's off-shored... sad.
Many of us, appreciate your videos and it's centerline view!! Keep up the good work! 👍
Actually never thought of it that way.
Nixon set up the insurers as middlemen so they profit from Medicare forever
First..i follow your videos religiously...no nonsense excellent analysis
That was the first time I've heard you have legitimate rage in your voice. It was restrained, but I could hear it in your voice how hard it was to restrain that rage. It really is awful how our politicians point their fingers at manufactured enemies to create power for themselves, while the enemies of the common man sit at home and extract more and more wealth from US citizens with the complicity of our government.
Thank you for sharing this> I feel your anger and helplessness. You're a true patriot...
Thanks for sharing your wake-up call, Kevin. You are spot on about who the enemy is.
Horrifying how greed for profit can create such insurance monsters!!
Kevin you are a good human being and you care. God Bless
The insurance in the US kill us. For car insurance I used to pay 1500$ per 6 months now is 4200$ per 6 months. My wife has little accident scratches other car bumper the insurance company raise up 1200$. The mileage slightly higher than what we reported they raise another 1200$. We live harder and harder in the US now.
I learn a great deal by listening to you, Kevin. Thanks.
Thank you Kevin for always opening our minds to the real truth of things.
Greed, rules 😔
In simplistic terms, the health insurers have inserted themselves between the patients and doctors and the government as retailers marking up prices along the way.
insurance companies are kind of a troll 👹 guarding a bridge and charging a toll.
they did not build the bridge or road, do not pay for its maintenance or upkeep, taxpayers pay that.
but charge people like bandits to cross.
A bridge that everyone must cross to get medical care.
wow, what a business.
well a honest man. not to many of you around. i guess we all wake up at different times. greed isn't for everyone, thanks for helping us win
Your care and concern for the US is palpable. The sad thing is regardless of who wins the presidency the entrenched and institutionalised corruption will still remain. Hopefully all the emerging nations like China will learn from this and not fall into the same trap.
For a VERY LONG time, China has rejected the American /western system, which is why the US is constantly targeting China.
We have 5000 yrs of history and civilization to draw from, and we have learned all we need to, from America. We are moving
beyond the corruptions and injustices of the US/west - raising our poor from poverty and implementing a more equal and
harmonious society. Furthermore, we a striving for a multi-polar and fairer world.
China had already "emerged", long before anyone in Europe even thought there was a North + South America.
The AIPAC will try to infest China before US totally corrupt. I know some of them have close relationship with senior officials in CCP.
@@maggiechan33 agreed
@@Novideos00
Peace.
The promotion of unhealthy living habits is another concern. These habits contribute to people's health problems. The companies that promote these habits often profit from the resulting need for healthcare.
Exactly. Dreaming up pills to deal with the problem created. And pills create more problems.
Decades ago there was an article which highlighted the best investment that any company could make. It had a rate or return around 1783% per annum. That investment was lobbying. Which is why the west has been destroying itself from within. They legalised bribery.
Thanks again 👍 for facts people need to know. Scary quote some of us recall. "If the insurance runs out, let them die," 😮 recent decades caring only about business over people's interest again and again. 😢
My Mom was a caregiver for the family house of the FDA (chair) president, Mr Rubino, a few decades ago.
She knew they weren't happy with unlabeled ingredients, which later was a requirement, but accurate information is always uncertain. And other new ways being invented to manipulate people's health, for side-effects and more medical costs, and ongoing return business.
And the authorities in the government of the FDA worked together with "foods" international conglomerates and drug companies treating people as Sheeple and more suppliers were (bribed with money 💰) influenced, to not have organic foods as mostly all marketers foods were organic decades before, as grandparents are known for saying.
Since the recent Cov19 world crisis, 80% or more of the global majority has increased the preference of natural remedies and preventions as their primary health care system.
No mystery why. 😮 Our US lost over a million people, yet a small fraction of that was lost by the most populated countries combined. 🤔 Serious side-effects also help lower our US average abilities in many topics. There's much more than mainstream media tells us.
This one was very hard hitting. We are good. You be good too Kevin.
Kevin is emotional today...."4 hour drive" is the epiphany of today's story. Respect! 👍
His frustration has been building up for quite a while; at least over the last 2 wks, his exasperation and disappointment
at the end of his videos are quite undeniable.
yes they are corrupt, but not as corrupt as those defense contractors.
You're doing God's work my friend. I'm so glad I found your channel.
Unlike too many in the US, Kevin is a genuine Christian.
A cunning way to fund overseas wars!!
I've noticed, after watching most, if not all your videos, a tone of increasing frustration with the increasing realisation of the global comparisons and disparity between East and West.
Totally agree.
His disappointment in the US, has been steadily building over a long time, but has intensified in the last 2 wks.
I feel so sad to hear that story of the small grocery business owner being forced to close some of his stores (and caused his workers a precious source of income) due to regulations being asked by the major grocery business which have ample resources to deal with the regulatory changes.
Thank you for sharing this story and it must be difficult considering that your former Wall Street employer is one of those major companies making life so miserable for millions of your ordinary countrymen.
Be safe and God bless.
you've seen the enemy... another great show. was just having a discourse on why this drug is so expensive and now in "short supply"
Thanks for the insights.. i can imagine the awakening that experience you shared..
These are life changing moments of enlightning...
Be thankful For them and continue to do the right thing... Spread the word...!!!
Thanks for your Service to the people...❤
There is a group of people from the same tribe controlling almost every financial transaction in the US, and taking their cut. Insurance, credit card debt, stock market investments, etc. Only if Americans knew who is making them poorer and poorer while they themselves get rich beyond one's imagination.
Kevin thank you for all you do in keeping people informed about the nature of business and the corruption behind decisions being made.
💩🧠🎭🤺🗣️🎰📽️
Kevin should write a book and US companies and corruption.
Your videos are very educational thank you .
Thanks for putting this out there.
I very sorry that You Tube has canceled my ability to comment. You are an important source of real world news. Thanks.
The subsidised price in Australia is around $30A for the 3mg pack which lasts a month, one injection a week. The price varies slightly depending on the pharmacy. Availability has been patchy for quite some time.
Your best video yet. I love the very clear and concise viewpoints you add for important perspective as well.
Ever since the United Sates Congress changed the lobbying law, the country has gone down hill since then.
It's not a country but a big corp
Totally true. Healthcare is "worth" 4.8 trillions of GDP in the USA. Large part of it is hot air. Bubble. Same is true for groceries with prices 2 times as high as in Europe for instance. USA is a paper Tiger
This is a great discussion!
Does that also mean that our GDP is artificially inflated 10X or more? Mind blowing video Kevin.
It’s not without reason that Americans hate our legislators, who are supposedly elected by Americans to bring good thing to this country and its people. In fact, you can confidently say that for every good thing that comes out from Congress, there are at least ten bad things come out from the same place. Your message shows how bad these bad things are. But obviously, we know we are not talking about the worst things.
Why does it take hundreds thousands of dollars to get them in office?
@@bertanelson8062 That way you can be sure that the corrupted ones get the job. They have to take the bribe.
Nobody welds our doors shut during Covid and we still have private property rights. Do they have that in china?
@@kellyfruit2815 They have a working modern infrastructure and a government that plans for the future. Do you have that in.the US?
@@kellyfruit2815 What good is "private property rights" when half the nation is mortgaged to the gills and don't actually OWN anything? The bank does.
I can tell how Kevin heart broken then! I can still see and feel that in this video!
My eyes are feeling with tear for him and the 99% of Americans! And then I am very angry.
Love this guy! Just the f'ACTS!!
It is the system that pushes CEOs into doing terrible things to fatten their bank accounts. It's called capitalism, and it was not by chance that in 1949, one of the most intelligent humans that ever graced this planet with his presence, Albert Einstein, wrote and published an essay titled "Why Socialism?" In it, he explained in rational terms anybody could understand why the only solution to the huge problems created by the capitalist system was a socialist one. His socialist remedy was not the kind of socialism practiced at the time in Easter Europe. It was the kind practiced today by China, and as we can see, it works.
Name ?
Literally Albert Einstein
Capitalism is good for capitalist....not otherwise.....
@@dennyli9339 Indeed, and that is something Warren Buffett has stated in recent times.
@@Q_QQ_Q It was Albert Einstein, as stated by someone here. I have added that name there.
It's a medication for diabetes, not weight loss. Weight loss is misuse of the drug.
it's also registered for weight loss
Suppressing appetite is one of the ways it works for diabetes.
False
Wegovy is rebranded Ozempic for weight loss. The company filed with the FDA to get an indication for weight loss and rebranded Ozempic as Wegovy and consequently they can price it differently. Its the same drug but used for 2 different purposes. Pharma company do that often. it is perfectly legal.
Wake up.
Intense ending. You save the best for the last two sentences, with a very nice lead up. Thank you :)
Great stuff, sir. You are doing a service for humanity. 🫡
Much respect for bring those facts to the light for the UA-cam community. Legalized corruption is part of US politics and its getting worst over the decade, something has to change, either voluntary or by force.
Healthcare and education should not be in private hands. Studies should not keep students indebted for life .
The Brits should be very wary of what Labour intends to do with the NHS.
Your channel is one of the best sources of knowledge for me to better understand China and the United States. Good work !
I was touched by your 4-hours drive story at the end. You have a heart cares about USA. I guess most companies in USA does not care much about people anymore specially now in this crazy world. So I guess everyone needs to take care of themselves and their family very carefully now.
I had a feeling that Insurance and drug companies, and private hospitals are working together in my country.
This is all very depressing. So much greed and corruption which is destroying the American dream. How do we the people fight against and change some of this for the future generations?
I feel bad for you and others like you who have woken up to the truth and reality of the greed and corruption of western society. In my experience, the loved ones around me only became more contemptuous.
“ Like the layers of an onion, under the first lie is another, and under that another, and they all make you cry.”
I grew up in the sixties with hope of inspiration for universal peace only to slowly Peel away the layers of lies, of greed and evil of the shadow elites.
Kevin, you are a man of conscience.
For anyone who wonders how easy it would be for the US to lower what they spend in Medicare costs, this is a perfect example of what’s wrong with the system.
This video of yours should Exhibit #1 for all who blindly revels in the bounty of the US.
We have doctors in the family, and how they despair at the way the insurance overlords dictate everything from pricing to patient care. Wonder why in the US, it is always the aggressive mediocre -- who adds little or no value and mostly harm -- who rules?
Kevin, there are many who share your 4-hour-drive experience in their professions. I am happy to see where you have gone with this abject lesson! It is a first-step to regaining one's humanity.
When long-time patients became "clients", that was the beginning of the end.
In Brazil, my father pays about 120 usd for his monthly ozempic dose.
8:35 "our enemies are not in Beijing or Moscow, our enemies are in Washington and on Wall Street" - well said!
Respect dude...👏👏👏
Protect this man at all cost
Good explanation. Much better than just saying greed.
I am 61, and I have said our health care system is bad, since I was 20-25yo. I have also said it won't change because people on the hill get free healthcare. Our healthcare providers, clinics, pharmacies, insurance companies, and any others connected to getting some of that money are connected to those on the hill. So, it will never change because we don't vote for people who will change it. We vote for the HILL people who continue to vote for not changing it.
By the way, the last Rx I wanted I had to make phone calls weekly to my clinic, and my insurance, and finally after 2 months, I got it. It's price was $1643 for 4 shots! Ridiculous!
*The Swamp.*
Excellent analysis! 👍🏼
Corruption at its best. Please do a video on how these companies evade taxes
Thank you for sharing that life changing experience.
Your last few words carries mighty weight. Street smart vs MBA.
I'm a relatively new subscriber but this is the best episode I have seen yet. You just nailed so many issues, so concisely!
Kevin, your channel is the best macro channel on UA-cam. Hands down! THE BEST! Months ago when you had 3000 subs, I said your channel was going to blow up, and it has. It will get much bigger though.
This video touched me the most. I had tears in my eyes. I'm a 66yo retired international school "high school" teacher (bio/chem/maths) in Malaysia. Since a teenager I'd already known the US (powers that be) is unconscionable. But in the past 5 years (after my retirement) I've discovered how more insidious the US really is. Now I know even more that the "democracy" in the US is a sham like a US TV "real-life" game show. The Western world (excluding the US) is no better who together with the US have raped, pillaged and built up their "glorious" empire using stolen wealth and propagandised themselves as being the MOST cultured, civilised, advanced and benevolent [bullies] that the rest of the world ("the jungle") should emulate. That's why they're terrified - they shit in their pants worried that the rest of the world will do to them what they did to the rest of the world. For your information WE are not like YOU!
CORRECT.
China, Russia and most non-Anglo nations don't aspire to be the hegemon, but rather want a more just, mult-polar world.
Was it Pogo who said I have seen the enemy. It is us.
I thank my lucky stars that I'm not American or westerner everyday.
*6:19** Tragic Story of Extreme Capitalism*
I buy it on the Black Market for $7 a unit (monthly) and sell it @ $50 a unit. I’m making bank and providing a product at a fraction of the cost anybody can get it at.
You’re Welcome and Thank You.
Future entrepreneur spotted !!!
I don't think I will be injecting any of your product thanks......
the anecdote at the end really struck a chord
why should I sell shit for 5 dollars when I can sell for 5000 😅
A bag of grommet for some machine being charged for $90,000 to the government by the military contractor when the something can be ordered from amazon $20.
Sounds like the premise for the hunger games
Thanks for sharing that personal experience in Alabama that led to your epiphany - "I have seen the enemy - and the enemy is us".
What a powerful statement to end the video, its called awaking.
I am glad to hear, you were blessed to have that meeting with this gentleman and with this experience to see the world in better light and adjusted your future plans..
Another amazing video.
100% truth on what is wrong with the USA.
American ingenuity.