Osempic and Wagoe are some of the most popular drugs in the country, driven by their remarkable success, treating diabetes and obesity.

But the drugs are extremely expensive, and the drugmaker's CEO appeared on Capitol Hill today

to face questions about why those prices are so high.

William Bringham reports.

What we are dealing with today is not just an issue of economics.

At a Senate Health Committee hearing, Chairman Bernie Sanders, independent of Vermont,

press the CEO of Novo Nordisk,

about why Americans pay so much more for the same drugs

compared to other nations.

The net price for Mozambique is still nearly $600 over nine times as much as it cost in Germany.

And the estimated net price of Ogoevi is over $800, nearly 4.5 times as much as a cost in Denmark.

CEO Lars Jorgensen defended his Danish firm, pointing the finger for high costs principally at the U.S. health care system.

We don't decide the price for patients.

That's set by the insurance companies.

He specifically blamed what are known as pharmacy benefit managers or PBMs.

They act as third party middlemen 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 and their PPMs the big conglomerate have more than doubled

actually close to tripled their profit.

Jorgensen argued those prices are high because Novo Nordisk has to pay the PBM's rebates to ensure his drugs are covered.

More expensive drugs lead to higher rebates.

But Sanders said he'd receive pledges from major PBM's that would change that equation.

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