Novo Nordisk to Cut US Insulin prices from 2024

16.03.2023 - Danish drugmaker Novo Nordisk has added its name to the list of insulin producers cutting prices for US retail buyers, following up on Eli Lilly’s announcement of price cuts and in response to growing pressure from the White House.

In his State-of-the-Union address earlier this year, President Joe Biden repeated his calls for a cap of $35.

On Mar.14, Novo Nordik said it would lower the list price of its NovoLog insulin by 75% and drop the price of Novolin and Levemir by 65% with effect from the beginning of 2024.

In a statement, the drugmaker said, “we have been working to develop a sustainable path forward that balances patient affordability, market dynamics, and evolving policy changes.”

Specifically, the cost of a five-pack of NovoLog injection pens should fall from $558.83 to $139.71, while a vial would cost $72.34 instead of $289.36. A single Levemir injection pen would carry a price tag of $161.77, and a vial would cost $107.85

Lilly said earlier this month that it planned to cut prices of its most commonly prescribed diabetes treatments by 70% and also cap the co-pay for insured patients at $35 per month. For the most part, the prices quoted are still higher than those paid by patients with health insurance coverage, reports say.

In an announcement last year, as the US political discussion about insulin prices reached a new peak, Sanofi suggested it would reduce prices for its Lantus-brand insulin for uninsured people in the US by two-thirds, from $99 per month to $35.

Together, the three drugmakers are seen as controlling the US insulin market.

Author: Dede Williams, Freelance Journalist