Novo Nordisk Announces 75% Price Drop on Insulin in US

Novo Nordisk has announced it will cut US insulin list prices by 75%, following in the footsteps of Eli Lilly who announced a $35 dollar a month copay price cap a few weeks prior. The news is a relief to patients and advocacy groups who’ve long protested the high prices of the drug, which is manufactured at a tiny fraction of the price. The trend comes after legal troubles for several pharma companies over US insulin prices.

According to Emily Kimber, “In January, California attorney general Rob Bonta filed a lawsuit against Novo Nordisk, along with Eli Lilly, Sanofi and leading pharmacy benefit managers (PBMs), for allegedly using their market power to overcharge patients for the life-saving drug. The lawsuit stated that, because the three drugmakers produce over 90% of the global insulin supply, they are able to keep ‘aggressively hiking’ the list price of insulin at the expense of patients.”

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(Source: PM Live, March 15^th, 2023)