Business

Novo Nordisk boosts lobbying as it seeks Medicare coverage for obesity drugs on August 22, 2023 at 10:00 am Business News | The Hill

Published

2 years ago

August 22, 2023

Novo Nordisk, the maker of the weight loss drug Wegovy and diabetes medication Ozempic, went on a federal lobbying spending spree in the first six months of 2023.

The Danish drugmaker is pushing Congress to pass a bill that would nix Medicare restrictions on covering weight management treatments.

Novo Nordisk has hired three new lobbying firms over the past three months, all of which disclosed being solely focused on issues related to obesity and Medicare coverage of anti-obesity drugs.

A 2003 law excludes weight-loss drugs from coverage under Medicare, the federal program that provides health coverage for older Americans. But since the American Medical Association recognized obesity as a disease in 2013, momentum has been building to shift federal policy.

“When Congress created the Medicare Part D drug benefit in 2003 the medical community’s understanding of obesity was in its infancy,” Nicole Ferreira, senior manager of corporate communications at Novo Nordisk, told The Hill in a written statement.

“Since then, the science has advanced, and we have learned obesity is a chronic, treatable disease — not simply a behavioral issue,” Ferreira wrote.

Sens. Tom Carper (D-Del.) and Bill Cassidy (R-La.) and Reps. Raul Ruiz (D-Calif.) and Brad Wenstrup (R-Ohio) reintroduced the Treat and Reduce Obesity Act, which would expand coverage of weight management medication to qualifying Medicare beneficiaries, before the August recess.

Novo Nordisk lobbies up

While the Treat and Reduce Obesity Act has stalled each time it’s been reintroduced over the last decade, drugmakers are capitalizing on several new factors to plead their case.

Public demand for the weight-loss drug is high and initial clinical trials recently suggested Wegovy reduces the risk of serious heart problems.

Qualifying federal employees are also now eligible for anti-obesity medication coverage, the U.S. Office of Personnel Management clarified in January.

“We recognize the progress made in covering anti-obesity medications; our goal is to have all Carriers offer adequate coverage,” the guidance reads.

From January through June 2023, Novo Nordisk spent nearly $2.9 million on federal lobbying for a range of policy issues including obesity drug coverage and the Treat and Reduce Obesity Act, according to federal lobbying data analyzed by the money-in-politics group OpenSecrets.

There are more lobbyists than ever on the Novo Nordisk payroll.

Sixty-three lobbyists, 44 of whom have swung through the so-called “revolving door” between the private sector and the government, registered to lobby on behalf of the drug maker in the first half of 2023, according to OpenSecrets data.

Novo Nordisk had 50 total lobbyists in 2022 and 28 in 2019.

Since the end of June, two new lobbying firms registered three new lobbyists to work on issues related to obesity on behalf of Novo Nordisk.

One of the new lobbyists is Bill Ghent, a member of the Subject Matters government relations team and former chief of staff to Carper, the bill’s lead sponsor. Ghent was Carper’s legislative director when the senator first introduced the bill in 2012.

Ghent did not return The Hill’s request for comment.

Shortages, cost concerns could derail momentum

Questions of cost and supply constraints are clouding the hype surrounding these new drugs.

The demand has not only made it harder for people to access the anti-obesity drug, but also for patients with diabetes to access the medication they need.

Wegovy and Ozempic are both injections that contain semaglutide, although the dosage per pen and regulator-approved uses differentiate the drugs.

The Food and Drug Administration (FDA) approved Ozempic to treat type 2 diabetes in 2017 and the higher-dose Wegovy for weight loss in 2021.

Although Ozempic has not been approved for weight loss, it’s sometimes prescribed off-label — meaning for a purpose outside the one approved by the FDA — as demand for weight loss drugs soars. But off label usage is often not covered by insurers.

Demand for the drug has also outpaced supply, leading the FDA to note that Wegovy and Ozempic semaglutide injections are “currently in shortage.”

“We understand how frustrating this situation is for the communities we serve and appreciate everyone’s patience as we continue to navigate significant demand for Wegovy,” Ferreira said.

“Please know that our commitment to the obesity community is a long-term one and we are investing significantly to build capacity to meet this increasing demand.”

Could Medicare coverage help pricing?

It’s unclear how expanded Medicare coverage would impact already-high demand.

There’s also an ongoing debate on the cost of covering anti-obesity treatments, as the Congressional Budget Office has yet to officially score the Treat and Reduce Obesity Act.

Researchers at Vanderbilt University Medical Center estimated that covering new anti-obesity medications for just 10 percent of Medicare beneficiaries could cost the federal program up to $26.8 billion per year and drive up premiums for drug plans.

But a study by the USC Schaeffer Center for Health Policy and Economics found Medicare coverage for obesity treatments could generate up to $245 billion in savings in the first 10 years, in part due to reducing co-morbidities associated with obesity, including heart attack and stroke.

“We’ve had to talk about things as so black and white, as either don’t cover it at all or give it to everybody, and I think that there is a middle ground,” Alison Sexton Ward, a research scientist with a doctorate in applied economics who worked on the study, told The Hill in an interview.

“A lot of this conversation is being lost by the list price,” Ward added.

Wegovy is prohibitively expensive without insurance, with the list price topping $1,300 per month. While most patients won’t pay the full list price after rebates or insurance, prices are up to 10 times higher in the U.S. than in other peer nations, a recent analysis by KFF found.

Many rebates also only apply to users who actually have diabetes.

“Novo Nordisk believes the most effective way for the millions of Americans who need anti-obesity medicines to be able to access and afford them is to ensure these medicines are covered by government and commercial insurance plans,” Ferreira said.

Health trade groups rally behind bill

A constellation of organizations including the American Diabetes Association (ADA), Weight Watchers and the Obesity Action Coalition are backing the bill.

“The ADA urges swift Congressional passage of this legislation so older Americans can access the services and treatment to reduce their risk for obesity and diabetes and improve their health,” said Lisa Murdock, the ADA’s chief advocacy officer, in a written statement.

The National Kidney Foundation, American Gastroenterological Association (AGA) and Academy of Nutrition and Dietetics are among the bill’s supporters that reported lobbying work on the bill during the first half of 2023, ahead of its reintroduction.

“Because many private insurance companies model their health benefits to reflect Medicare, the passage of the bipartisan TROA could lead to improved obesity care options for all Americans,” Dr. Rotonya Carr, chair of the AGA Government Affairs Committee, told The Hill in a written statement.

“The AGA fully supports this legislation and has no reservations about expanding obesity care coverage to the millions of Americans who suffer with obesity and its complications,” Carr wrote.

Notably, the pharmaceutical industry association PhRMA has not taken a position or lobbied on the bill.

“We appreciate the focus on helping seniors access the medicines they need. As the treatment paradigm for diseases and conditions advance, it’s critical to ensure Medicare coverage policies evolve as well,” PhRMA spokesperson Nicole Longo told The Hill.

Business, Health Care, Lobbying, Novo Nordisk, ozempic, Tom Carper, wegovy Novo Nordisk, the maker of the weight loss drug Wegovy and diabetes medication Ozempic, went on a federal lobbying spending spree in the first six months of 2023. The Danish drugmaker is pushing Congress to pass a bill that would nix Medicare restrictions on covering weight management treatments. Novo Nordisk has hired three new lobbying…

Business

Harvard Grads Jobless? How AI & Ghost Jobs Broke Hiring

Published

4 weeks ago

October 23, 2025

Bolanle Media Staff

America’s job market is facing an unprecedented crisis—and nowhere is this more painfully obvious than at Harvard, the world’s gold standard for elite education. A stunning 25% of Harvard’s MBA class of 2025 remains unemployed months after graduation, the highest rate recorded in university history. The Ivy League dream has become a harsh wakeup call, and it’s sending shockwaves across the professional landscape.

Jobless at the Top: Why Graduates Can’t Find Work

For decades, a Harvard diploma was considered a golden ticket. Now, graduates send out hundreds of résumés, often from their parents’ homes, only to get ghosted or auto-rejected by machines. Only 30% of all 2025 graduates nationally have found full-time work in their field, and nearly half feel unprepared for the workforce. “Go to college, get a good job“—that promise is slipping away, even for the smartest and most driven.

Tech’s Iron Grip: ATS and AI Gatekeepers

Applicant tracking systems (ATS) and AI algorithms have become ruthless gatekeepers. If a résumé doesn’t perfectly match the keywords or formatting demanded by the bots, it never reaches human eyes. The age of human connection is gone—now, you’re just a data point to be sorted and discarded.

AI screening has gone beyond basic qualifications. New tools “read” for inferred personality and tone, rejecting candidates for reasons they never see. Worse, up to half of online job listings may be fake—created simply to collect résumés, pad company metrics, or fulfill compliance without ever intending to fill the role.

The Experience Trap: Entry-Level Jobs Require Years

It’s not just Harvard grads who are hurting. Entry-level roles demand years of experience, unpaid internships, and portfolios that resemble a seasoned professional, not a fresh graduate. A bachelor’s degree, once the key to entry, is now just the price of admission. Overqualified candidates compete for underpaid jobs, often just to survive.

One Harvard MBA described applying to 1,000 jobs with no results. Companies, inundated by applications, are now so selective that only those who precisely “game the system” have a shot. This has fundamentally flipped the hiring pyramid: enormous demand for experience, shrinking chances for new entrants, and a brutal gauntlet for anyone not perfectly groomed by internships and coaching.

Burnout Before Day One

The cost is more than financial—mental health and optimism are collapsing among the newest generation of workers. Many come out of elite programs and immediately end up in jobs that don’t require degrees, or take positions far below their qualifications just to pay the bills. There’s a sense of burnout before careers even begin, trapping talent in a cycle of exhaustion, frustration, and disillusionment.

Cultural Collapse: From Relationships to Algorithms

What’s really broken? The culture of hiring itself. Companies have traded trust, mentorship, and relationships for metrics, optimizations, and cost-cutting. Managers no longer hire on potential—they rely on machines, rankings, and personality tests that filter out individuality and reward those who play the algorithmic game best.

AI has automated the very entry-level work that used to build careers—research, drafting, and analysis—and erased the first rung of the professional ladder for thousands of new graduates. The result is a workforce filled with people who know how to pass tests, not necessarily solve problems or drive innovation.

The Ghost Job Phenomenon

Up to half of all listings for entry-level jobs may be “ghost jobs”—positions posted online for optics, compliance, or future needs, but never intended for real hiring. This means millions of job seekers spend hours on applications destined for digital purgatory, further fueling exhaustion and cynicism.

Not Lazy—Just Locked Out

Despite the headlines, the new class of unemployed graduates is not lazy or entitled—they are overqualified, underleveraged, and battered by a broken process. Harvard’s brand means less to AI and ATS systems than the right keyword or résumé format. Human judgment has been sidelined; individuality is filtered out.

What’s Next? Back to Human Connection

Unless companies rediscover the value of human potential, mentorship, and relationships, the job search will remain a brutal numbers game—one that even the “best and brightest” struggle to win. The current system doesn’t just hurt workers—it holds companies back from hiring bold, creative talent who don’t fit perfect digital boxes.

Key Facts:

25% of Harvard MBAs unemployed, highest on record
Only 30% of 2025 grads nationwide have jobs in their field
Nearly half of grads feel unprepared for real work
Up to 50% of entry-level listings are “ghost jobs”
AI and ATS have replaced human judgment at most companies

If you’ve felt this struggle—or see it happening around you—share your story in the comments. And make sure to subscribe for more deep dives on the reality of today’s economy and job market.

This is not just a Harvard problem. It’s a sign that America’s job engine is running on empty, and it’s time to reboot—before another generation is locked out.

Business

Why 9 Million Americans Have Left

Published

2 months ago

October 8, 2025

Bolanle Media Staff

The Growing American Exodus

Nearly 9 million Americans now live outside the United States—a number that rivals the population of several states and signals a profound shift in how people view the American dream. This mass migration isn’t confined to retirees or the wealthy. Thanks to remote work, digital nomad visas, and mounting pressures at home, young professionals, families, and business owners are increasingly joining the ranks of expats.

Rising Costs and Shrinking Wallets

Living in the US has become increasingly expensive. Weekly grocery bills topping $300 are not uncommon, and everyday items like coffee and beef have surged in price over the last year. Rent, utilities, and other essentials also continue to climb, leaving many Americans to cut meals or put off purchases just to make ends meet. In contrast, life in countries like Mexico or Costa Rica often costs just 50–60% of what it does in the US—without sacrificing comfort or quality.

Health Care Concerns Drive Migration

America’s health care system is a major trigger for relocation. Despite the fact that the US spends more per person on health care than any other country, millions struggle to access affordable treatment. Over half of Americans admit to delaying medical care due to cost, with households earning below $40,000 seeing this rate jump to 63%. Many expats point to countries such as Spain or Thailand, where health care is both affordable and accessible, as a major draw.

Seeking Safety Abroad

Public safety issues—especially violent crime and gun-related incidents—have made many Americans feel unsafe, even in their own communities. The 2024 Global Peace Index documents a decline in North America’s safety ratings, while families in major cities often prioritize teaching their children to avoid gun violence over simple street safety. In many overseas destinations, newly arrived American families report a significant improvement in their sense of security and peace of mind.

Tax Burdens and Bureaucracy

US tax laws extend abroad, requiring expats to file annual returns and comply with complicated rules through acts such as FATCA. For some, the burden of global tax compliance is so great that thousands relinquish their US citizenship each year simply to escape the paperwork and scrutiny.

The Digital Nomad Revolution

Remote work has unlocked new pathways for Americans. Over a quarter of all paid workdays in the US are now fully remote, and more than 40 countries offer digital nomad visas for foreign professionals. Many Americans are leveraging this opportunity to maintain their US incomes while cutting costs and upgrading their quality of life abroad.

Conclusion: Redefining the Dream

The mass departure of nearly 9 million Americans reveals deep cracks in what was once considered the land of opportunity. Escalating costs, inaccessible healthcare, safety concerns, and relentless bureaucracy have spurred a global search for better options. For millions, the modern American dream is no longer tied to a white-picket fence, but found in newfound freedom beyond America’s borders.

Business

Will Theaters Crush Streaming in Hollywood’s Next Act?

Published

2 months ago

October 8, 2025

Bolanle Media Staff

Hollywood is bracing for a pivotal comeback, and for movie lovers, it’s the kind of shake-up that could redefine the very culture of cinema. With the freshly merged Paramount-Skydance shaking up its strategy, CEO David Ellison’s announcement doesn’t just signal a change—it reignites the passion for moviegoing that built the magic of Hollywood in the first place.

Theatrical Experience Roars Back

Fans and insiders alike have felt the itch for more event movies. For years, streaming promised endless options, but fragmented attention left many longing for communal spectacle. Now, with Paramount-Skydance tripling its film output for the big screen, it’s clear: studio leaders believe there’s no substitute for the lights, the hush before the opening credits, and the collective thrill of reacting to Hollywood’s latest blockbusters. Ellison’s pivot away from streaming exclusives taps deep into what unites cinephiles—the lived experience of cinema as art and event, not just content.

Industry Pulse: From Crisis to Renaissance

On the financial front, the numbers are as electrifying as any plot twist. After years of doubt, the box office is roaring. AMC, the world’s largest theater chain, reports a staggering 26% spike in moviegoer attendance and 36% revenue growth in Q2 2025. That kind of momentum hasn’t been seen since the heyday of summer tentpoles—and it’s not just about more tickets sold. AMC’s strategy—premium screens, with IMAX and Dolby Cinema, curated concessions, and branded collectibles—has turned every new release into an event, driving per-customer profits up nearly 50% compared to pre-pandemic norms.

Blockbusters Lead the Culture

Forget the gloom of endless streaming drops; when films like Top Gun: Maverick, Mission: Impossible, Minecraft, and surprise hits like Weapons and Freakier Friday draw crowds, the industry—and movie fans—sit up and take notice. Movie-themed collectibles and concession innovations, from Barbie’s iconic pink car popcorn holders to anniversary tie-ins, have made each screening a moment worth remembering, blending nostalgia and discovery. The focus: high-impact, shared audience experiences that streaming can’t replicate.

Streaming’s Limits and Studio Strategy

Yes, streaming is still surging, but the tide may be turning. The biggest franchises, and the biggest cultural events, happen when audiences come together for a theatrical release. Paramount-Skydance’s shift signals to rivals that premium storytelling and box office spectacle are again at the center of Hollywood value creation. The result is not just higher profits for exhibitors like AMC, but a rebirth of movie-going as the ultimate destination for fans hungry for connection and cinematic adventure.

Future Forecast: Culture, Community, and Blockbuster Dreams

As PwC and others warn that box office totals may take years to fully catch up, movie lovers and industry leaders alike are betting that exclusive theatrical runs, enhanced viewing experiences, and fan-driven engagement are the ingredients for long-term recovery—and a new golden age. The Paramount-Skydance play is more than a business move; it’s a rallying cry for the art of the theatrical event. Expect more big bets, more surprises, and—finally—a long-overdue renaissance for the silver screen.

For those who believe in the power of cinema, it’s a thrilling second act—and the best seat in the house might be front and center once again.