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Pikruos > Blog > Blog > Analyzing the Economic Impact of Ozempic Lawsuits
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Analyzing the Economic Impact of Ozempic Lawsuits

Hannah Baker
Last updated: July 2, 2024 5:48 am
By Hannah Baker 8 Min Read
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Ozempic (brand name for semaglutide) is an injectable medicine prescribed to effectively manage type 2 diabetes. It is manufactured and marketed by Novo Nordisk. It controls high blood sugar levels in individuals, along with reducing the risk of cardiovascular diseases.

Contents
Ozempic and Weight LossSide-Effects of Weight Loss Drugs Like OzempicImpact of Ozempic on Victims Economic Impact on Manufacturers Legal Costs Stock FluctuationsProduct ModificationsFrequently Asked Questions (FAQs)What evidence should one gather for the Ozempic lawsuit?How can a lawyer help me make my Ozempic lawsuit stronger? What compensation can I receive in an Ozempic lawsuit?Can I file an Ozempic lawsuit even if the FDA approves the drug?

In 2017 the medicine was made available to the public. Less than a year after its development, researchers at the University of Sheffield deemed it to be appropriate for treating obesity. Wegovy (which has the same active ingredient as Ozempic i.e. Semaglutide) was approved by FDA for long-term weight management in 2021. 

Amidst the increasing obesity cases in the United States, Ozempic gained massive popularity. However, the drug manufacturer Novo Nordisk saw a spike in the Ozempic lawsuits filed against the company, for failing to reveal the life-threatening side effects of the prescription drug on their label. 

People reported that they started suffering from severe stomach paralysis, pancreatitis, gallbladder issues, and allergic reactions, among other problems. In this article, we aim to throw light upon the health risks involved in consuming Ozempic, the deplorable condition of victims, the overall financial strain, and more. 

Ozempic and Weight Loss

The Food and Drug Administration did not approve Ozempic as a weight management or weight loss drug. However, the drug may help treat obesity as it decreases the appetite. 

In most cases, doctors may prescribe Wegovy for weight management. They may also recommend Ozempic off-label. Let us understand how the medication works. 

Ozempic slows down your digestion process, making you feel full for a longer duration. It increases satiety — mimicking the role of a hormone, glucagon-like peptide 1 (GLP-1). 

Although this drug may aid in weight loss, it has some severe side effects. Let’s study them in the next section. 

Side-Effects of Weight Loss Drugs Like Ozempic

  • Severe gastrointestinal issues
  • Changes in vision
  • Pancreatitis
  • Hypoglycemia
  • Bowel obstruction 
  • Kidney failure
  • Allergic reactions
  • Gallbladder problems 
  • Thyroid cancer
  • Nausea
  • Vomiting
  • Diarrhea
  • Stomach pain
  • Constipation

According to Forbes, the European Medicines Agency suggested that there may be a possible connection between suicidal tendencies and the consumption of semaglutide drugs. The agency claims that it has received approximately 150 reports stating the same. 

Impact of Ozempic on Victims 

In 2023, a woman from Louisiana sued Novo Nordisk and Eli Lilly, the manufacturers of Ozempic and Mounjaro respectively. The lawsuit revolved around the companies failing to disclose the potential increased risk to health after consuming the drugs. 

She claimed she was hospitalized many times for stomach paralysis, and vomiting violently made some of her teeth fall off on one occasion. 

In another case, a woman claimed that consuming the Ozempic drug forced her to get her gallbladder removed. 

Laura Marrero claimed that she suffered from persistent vomiting from May 2023 to October 2023 (the entire duration in which she consumed the drug). In August 2023 she was hospitalized after she ended up with abdominal pain, rectal bleeding, nausea, and experienced issues with swallowing. She went on to file a lawsuit in December 2023. Pp

However, to date, she continues to bear the brunt of consuming the drug.  Her suffering hasn’t been limited to pain. It has caused her mental anguish, loss of enjoyment of life, and depression, and the medical bills have amounted to a financial burden. TruLaw notes that a lawsuit is the only way to get compensated for such dire implications. 

An Ozempic lawsuit doesn’t only impact the victims, in all probability it will cause a dent in the finances of pharmaceuticals too. In the next section, we’ll uncover how the companies will remain affected. 

Economic Impact on Manufacturers 

Legal Costs 

Companies like Novo Nordisk and Eli Lilly will have to give out compensations worth substantial amounts due to the 55+ lawsuits filed against them.  This includes attorney fees, settlement payments, and more.

Stock Fluctuations

Repeated lawsuits can cause major fluctuations in the stock prices of any company. The market value of companies takes a hit as investors stop losing faith in the brand or product. 

Product Modifications

Companies, in this case, the pharmaceuticals, have to become more careful about clinical trials, reassess the composition of the drug, and carry out more R&D if required. This may also involve product recalls, changes in the drug formula, re-branding, and modifications in marketing and advertising. 

Frequently Asked Questions (FAQs)

What evidence should one gather for the Ozempic lawsuit?

You must gather the following for a potential Ozempic lawsuit:

  • Medical reports
  • Doctor’s notes and prescriptions
  • Receipts of medicines 
  • Witness statements
  • Photos/videos
  • Personal testimony
  • Provide additional evidence proving your health problems and their connection with consuming Ozempic, Wegovy, or both. 

How can a lawyer help me make my Ozempic lawsuit stronger? 

Skilled attorneys will make a note and assess all the required details for filing your case. The lawyer will gather evidence, have a word with medical professionals about your health condition, and collect medical bills. This way he/she can successfully build a strong case and increase your chances of winning the case.

What compensation can I receive in an Ozempic lawsuit?

The specific amount entirely depends on the severity of the victim’s condition along with the expenses incurred in the form of medical bills, lost wages, and other damages like pain, suffering, and emotional distress. 

Can I file an Ozempic lawsuit even if the FDA approves the drug?

The answer is yes. FDA approval does not mean that that company is no longer liable. The pharmaceutical has to ensure the necessary precautions are taken in the form of warning consumers about the drug and providing safety information. In this case, Ozempic’s warning label failed to give enough safety information, which makes the manufacturer liable. 

As of now (June 2024), there are several ongoing lawsuits filed against the manufacturer of the drug Ozempic, Novo Nordisk. The focus of Ozempic cases is the failure on the part of the pharmaceutical company to provide sufficient warning to potential consumers about the side effects of stomach paralysis. 

The U.S. Judicial Panel on Multidistrict Litigation (JPML) consolidated 55 federal lawsuits, under ozempic MDL 3094. The legal process has majorly impacted victims, whereas the outcome may have detrimental effects on the pharmaceutical industry.

 

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