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Novo Nordisk Announces Major Insulin Price Cut by Up to 75%, Following in the Footsteps of Eli Lilly
Danish drugmaker Novo Nordisk recently announced a reduction in the list price of several insulin drugs in the United States by up to 75%, making it the latest major pharmaceutical company to slash the insulin price amid pressure to curb the treatment costs for diabetics in the country.
The price change, which will take effect on January 1, 2024, follows a path set earlier this month by Eli Lilly, one of the major rivals of Novo Nordisk in the insulin market of the United States. It involves the company’s pre-filled pens (FlexPen) as well as vials of long- and short-acting insulins, including Levemir, Novolin, NovoLog and NovoLog Mix70/30.
The list prices for Levemir and Novolin vials and FlexPens will be reduced by 65%, while NovoLog and NovoLog Mix 70/30 will become 75% cheaper. The list prices of unbranded insulin products will also be reduced to match lowered prices of respective branded insulin products.
The price change, which will take effect on January 1, 2024, follows a path set earlier this month by Eli Lilly, one of the major rivals of Novo Nordisk in the insulin market of the United States. It involves the company’s pre-filled pens (FlexPen) as well as vials of long- and short-acting insulins, including Levemir, Novolin, NovoLog and NovoLog Mix70/30.
The list prices for Levemir and Novolin vials and FlexPens will be reduced by 65%, while NovoLog and NovoLog Mix 70/30 will become 75% cheaper. The list prices of unbranded insulin products will also be reduced to match lowered prices of respective branded insulin products.
