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Many Americans really want to lose weight and a new poll shows nearly half of adults would be interested in taking a prescription drug to help them do so. Use Our Content

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At the same time, enthusiasm dims sharply if the treatment comes as an injection, if it is not covered by insurance, or if the weight is likely to return after discontinuing treatment, a new nationwide KFF poll found.

Those findings display the enthusiasm for a new generation of pricey weight loss drugs hitting the market and illustrate possible stumbling blocks, as users potentially must deal with weekly self-injections, lack of insurance coverage, and the need to continue the medications indefinitely.

For example, interest dropped to 14% when respondents were asked if they would still consider taking prescription medications if they knew they could regain weight after stopping the drugs.

One way to interpret that finding is people want to lose a few pounds but dont want to be on a drug for the rest of their life, said Ashley Kirzinger, KFFs director of survey methodology. The monthly poll reached out to 1,327 U.S. adults.

The U.S. represents a large market for drugmakers who want to sell weight loss prescriptions: An estimated 42% of the population is classified as obese, according to a controversial metric known as BMI, or body mass index. In the KFF poll, 61% said they were currently trying to lose weight, although only 4% were taking a prescription medication to do so.

That gap between the 4% taking any kind of prescription weight loss treatment and the number of Americans deemed overweight or obese is the sweet spot drugmakers are targeting for the new drugs, which include several diabetes treatments repurposed as weight loss drugs.

The drugs have attracted much attention, both in mainstream publications and broadcasts and on social media, where they are often touted by celebrities and other influencers. Demand jumped and supplies have become limited. About 7 in 10 adults had heard at least a little about the new drugs, according to the survey.

The newer treatments include Wegovy, a slightly higher dose of Novo Nordisks diabetes drug Ozempic, and Mounjaro, an Eli Lilly diabetes treatment for which the company is currently seeking FDA approval as a weight loss drug.

Weight loss with these injectable drugs surpasses those of earlier generations of weight loss medications. But they are also costlier than previous drugs. The monthly costs of the drugs set by the drugmakers can range from $900 to more than $1,300.

At, say, a wholesale price tag of $1,350, the tab per person could top $323,000 over 20 years. Email Sign-Up

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The drugs appear to work by mimicking a hormone that helps decrease appetite.

Still, like all drugs, they come with side effects, which can include nausea, diarrhea, vomiting, and constipation. More serious side effects include the risk of a type of thyroid cancer, inflammation of the pancreas, or low blood sugar. Health officials in Europe are investigating reports that the drugs may result in other side effects like suicidal thoughts.

The KFF survey found that 80% of adults thought insurers should cover the new weight loss drugs for those diagnosed as overweight or obese. Just over half wanted it covered for anyone who wanted to take it. Half would still support insurance coverage even if doing so could increase everyones monthly premiums. Still, 16% of those surveyed said they would be interested in a weight loss prescription even if their insurance did not cover it.

In practice, coverage for the new treatments varies, and private insurers often peg coverage to patients BMI, a ratio of height to weight. Medicare specifically bars coverage for drugs for anorexia, weight loss, or weight gain, although it pays for bariatric surgery.

Unfortunately, a lot of insurers have not caught up to the idea of recognizing obesity as a disease, said Fatima Cody Stanford, an obesity medicine specialist at Massachusetts General Hospital and Harvard Medical School.

Employers and insurers must consider the potential costs of covering the drugs for enrollees perhaps for them to use indefinitely against the potential savings associated with losing weight, such as a lower chance of diabetes or joint problems.

Stanford said the drugs are not a miracle cure and do not work for everyone. But for those who benefit, it can be significantly life-altering in a positive way, she said.

Its not surprising, she added, that the drugs may need to be taken long term, as the idea that there is a quick fix doesnt reflect the complexity of obesity as a disease.

While the drugs currently on the market are injectables, some drugmakers are developing oral weight loss drugs, although it is unclear whether the prices will be the same or less than the injectable products.

Still, many experts predict that a lot of money will be spent on weight loss products in the coming years. In a recent report, Morgan Stanley analysts called obesity the new hypertension and predicted industry revenue from U.S. sales of obesity drugs could rise from a current $1.6 billion annually to $31.5 billion by 2030.

Julie Appleby: jappleby@kff.org, @Julie_appleby Related Topics Health Industry Pharmaceuticals Drug Costs KFF Obesity Prescription Drugs Contact Us Submit a Story Tip

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Entertainment

Gustav Klimt’s Portrait of Elisabeth Lederer sells for £180m at auction, a record for modern art

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Gustav Klimt's Portrait of Elisabeth Lederer sells for £180m at auction, a record for modern art

A painting that helped save the life of its Jewish subject during the Holocaust has become the most expensive piece of modern art and the second most expensive painting ever sold at auction.

The Portrait of Elisabeth Lederer, by Austrian artist Gustav Klimt, was bought for $236.4m (£180m) by an unnamed buyer after a 20-minute bidding war at Sotheby’s in New York on Tuesday.

Its sale price beat the previous record for 20th-century art set by Andy Warhol’s Shot Sage Blue Marilyn, a portrait of Marilyn Monroe bought for $195m (£148m) in 2022.

Shot Sage Blue Marilyn by Andy Warhol. Pic: Associated Press
Image:
Shot Sage Blue Marilyn by Andy Warhol. Pic: Associated Press

The most expensive painting ever sold at auction was Leonardo da Vinci’s Salvator Mundi, which fetched $450m (£342m) in 2017, Christie’s said on its website.

Sotheby’s said on X the price for the Klimt was “astonishing”, making the piece “the most valuable work of modern art ever sold at auction”.

The portrait, which Klimt worked on between 1914 and 1916, depicts the daughter of one of Vienna’s wealthiest families wearing an East Asian emperor’s cloak.

Evaded fire and Nazi looters

More on Austria

Measuring 1.8m (6ft), the colourful piece, which was completed in 1916, illustrates the Lederer family’s life of luxury before Nazi Germany annexed Austria in 1938.

It was kept separate from other Klimt paintings that burned in a fire at an Austrian castle.

It also escaped being looted by the Nazis, who plundered the Lederer art collection.

They left only the family portraits, which they held to be “too Jewish” to be worth stealing, according to the National Gallery of Canada, where the painting was previously on loan.

Father lie saved her life

To save her own life, Elisabeth Lederer made up a story that Klimt, who was not Jewish and died in 1918, was her father.

It helped that the artist spent years working meticulously on her portrait.

She convinced the Nazis to give her a document stating that she descended from Klimt, which allowed her to live safely in Vienna until her death from illness in 1944.

The painting, which is one of two full-length portraits by the Austrian artist that remain privately owned, was part of the collection of billionaire Leonard A Lauder, heir to the Estée Lauder cosmetics empire, who died this year.

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Five Klimt pieces from Lauder’s collection sold at the auction for a total of $392m (£298m), which also included pieces by Vincent van Gogh, Henri Matisse and Edvard Munch, Sotheby’s said.

An 18-carat-gold toilet by Maurizio Cattelan – the provocative Italian artist known for taping a banana to a wall – sold for a reported $12.1m (£9.2m).

The fully-functioning toilet, one of two he created in 2016 satirising superwealth, was stolen while on display at Blenheim Palace, the country manor where Winston Churchill was born, in 2019.

Two men were convicted of the theft, but it’s unclear what they did with the loo.

Investigators believe it was likely broken up and melted down.

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Politics

New Hampshire approves first-of-its-kind $100M Bitcoin-backed municipal bond

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New Hampshire approves first-of-its-kind 0M Bitcoin-backed municipal bond

New Hampshire has approved the issuance of a $100 million municipal bond backed by Bitcoin, in what appears to be the first structure of its kind at the US state level.

Minutes from a Nov. 17 meeting of the New Hampshire Business Finance Authority (BFA), the state’s business financing agency, show the board planned “to consider approving a resolution authorizing up to $100,000,000 bonds for a project to acquire and hold digital currency.”

Minutes from the following day record that directors voted to “approve the preliminary official intent, with no reservation, to issue a taxable conduit revenue bond for WaveRose Depositor, LLC of up to $100,000,000.”

According to a Wednesday Crypto in America report, the bond is backed by Bitcoin (BTC) and would let companies borrow against overcollateralized BTC held by a private custodian. The state or taxpayers do not back the bond; instead, BFA approves and oversees a private deal, while Bitcoin — reportedly held in custody by BitGo — covers investors.

According to the report, asset manager Wave Digital Assets and bond specialist Rosemawr Management designed the bond to utilize Bitcoin as collateral under the same rules that govern municipal and corporate bonds. Wave co-founder Les Borsai said the goal is to “bridge traditional fixed income with digital assets” for institutional investors.

New Hampshire, United States
The New Hampshire State House in Concord. Source: Wikimedia

Related: New Hampshire, North Dakota introduce bills for Strategic Bitcoin Reserve

“We believe this structure shows how public and private sectors can collaborate to responsibly unlock the value of digital assets and digital asset reserves,” he added.

The borrower is expected to post approximately 160% of the bond’s value in Bitcoin as collateral, and if the price of BTC drops below roughly 130%, a liquidation would ensure that bondholders stay whole. According to BFA Executive Director James Key-Wallace, fees from the transaction will fund the local innovation and entrepreneurship program, the Bitcoin Economic Development Fund.

New Hampshire dives headfirst into crypto

The news follows New Hampshire becoming the first US state to allow its government to invest in cryptocurrencies in May after Governor Kelly Ayotte signed a bill allowing the municipality to “invest in cryptocurrency and precious metals.”

Related: US won’t start Bitcoin reserve until other countries do: Mike Alfred

New Hampshire is also working on a bill to deregulate local cryptocurrency mining operations. In late October, a committee voted 4–2 to send the measure for further review in an interim study after it had been deadlocked in the State Senate twice.

The local administration is viewed as particularly welcoming to the cryptocurrency industry. In early February, Brendan Cochrane, an Anti-Money Laundering specialist at YK Law in New York City, argued that it could become an alternative for crypto companies relocating to the Bahamas.

The latest moves build on a longer history of crypto engagement. Back in 2015, New Hampshire was already working on a bill that would have allowed the state government to accept tax and fee payments in Bitcoin.

The bill ultimately failed in 2016, but it shows how early the local administration began to show interest in this asset class. Additionally, as early as 2016, some advocates were already arguing that New Hampshire was among the world’s most Bitcoin-friendly communities.