Competition, Not Regulation, Will Control the Cost of Obesity

Getting the government out of the way so that market forces and innovation can set the course is the best recipe for a less obese and healthier world.

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Pens for the diabetes drug Ozempic on a production line at Danish drugmaker Novo Nordisk’s site in Hillerod, Denmark, September 26, 2023.

Tom Little/Reuters

Innovation got us into the obesity epidemic. And it can get us out — so long as policy-makers don’t get in the way.

A new class of weight-loss drugs such as Ozempic or Wegovy, known as GLP-1 agonists, is transforming how Americans treat obesity, with vast potential benefits for both patients and taxpayers. But just as we’re beginning to understand the promise and enormous value of these therapies, lawmakers like Bernie Sanders are warning that the drugs could “bankrupt our entire health care system” and urging that bureaucrats take over and the government impose strict price controls.

Tomas J. Philipson

About the Author

Tomas J. Philipson

Tomas J. Philipson served on the President’s Council of Economic Advisers as a member and acting chairman from 2017 to 2020. He is the Daniel Levin Professor Emeritus at the University of Chicago.

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