Novo Nordisk Also Cutting Price Of Insulin
The giant drugmaker is following Eli Lilly's lead by dropping the list price of several products, some as much as 75%. Sanofi, the other major insulin manufacturer, said that it is “continually listening to patients, patient advocates, caregivers, and others to better understand additional actions we could take to address access or affordability challenges.”
Stat:
Novo Nordisk To Lower Insulin Prices By Up To 75% Amid Pressure
Under mounting pressure, Novo Nordisk plans to cut U.S. list prices for several insulin products by up to 75%, the latest big drugmaker to take such a step in response to a years-long outcry over the cost of the diabetes treatments. (Silverman, 3/14)
AP:
Novo Nordisk Plans Price Cuts For Several Insulins
The price cuts go into effect Jan. 1. A vial of NovoLog and NovoLog Mix 70/30 will drop 75% to $72.34 from $289.36. FlexPen options will fall to $139.71 from more than $500. Levemir and Novolin vials and FlexPens will drop 65% from their current list prices. (Murphy, 3/14)
The Wall Street Journal:
Novo Nordisk To Slash Insulin Prices By Up To 75%
President Biden said he was pleased by Novo’s price cuts and urged other insulin makers to follow suit. He also said Congress should “cap insulin at $35 for all Americans.” Lilly, Novo and Sanofi SA are the leading sellers of insulins in the U.S. and worldwide. They had substantially raised the prices for their insulin products in the U.S. during the 2010s. The companies have said they didn’t make much from the higher list prices, because they had to pay larger rebates to the companies that manage drug benefits. (Loftus, 3/14)
The Washington Post:
Novo Nordisk Becomes Latest Producer To Slash Insulin Prices
Novo Nordisk declined to make an executive available for an interview. Asked why it is now deciding to lower prices, the company said in a statement that the plans were made months ago, “but due to increased stakeholder interest, we accelerated to announce now.” ... Sanofi, the other major insulin manufacturer, said in a statement Tuesday that it is “continually listening to patients, patient advocates, caregivers and others to better understand additional actions we could take to address access or affordability challenges.” It also provided a list of its programs to help cover costs of its insulin. (Gilbert, 3/14)
