Novo Nordisk Plans Price Cuts for Several Insulins

March 14, 2023by Tom Murphy, Associated Press
Novo Nordisk Plans Price Cuts for Several Insulins
This Wednesday, March 1, 2023, photo shows a vial of Eli Lilly's Humalog insulin in New York. Eli Lilly will cut prices for some older insulins later this year and immediately give more patients access to a cap on costs they pay to fill prescriptions. (AP Photo/Pablo Salinas)

Novo Nordisk will start slashing some U.S. insulin prices up to 75% next year, following a path set earlier this month by rival Eli Lilly.

The Danish drugmaker said Tuesday that pre-filled pens and vials of long- and short-acting insulins will see list price reductions. They include Levemir, Novolin, NovoLog and NovoLog Mix70/30.

Novo also will drop the list price of unbranded products like Insulin Aspart to match the lower price of the branded 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.

Eli Lilly and Co. said March 2 that it will cut the list prices for its most commonly prescribed insulin, Humalog, and for another insulin, Humulin, by 70% or more in the fourth quarter, which starts in October.

List prices are what a drugmaker initially sets for a product and what people who have no insurance or plans with high deductibles are sometimes stuck paying.

Patient advocates have long called for insulin price cuts to help uninsured people who would not be affected by price caps tied to insurance coverage. They have noted that high insulin prices force many people to ration doses, which can be dangerous for their health.

Research has shown that prices for insulin have more than tripled in the last two decades. Pressure is growing on drugmakers to help patients.

Major insulin makers like Lilly and Novo have said they offer patient assistance programs and other help. But Lilly CEO David Ricks noted earlier this month that discounts the drugmaker offers from its list prices often don’t reach patients through insurers or pharmacy benefit managers.

The federal government in January started applying a $35 cap on monthly out-of-pocket costs to patients with coverage through its Medicare program for people age 65 and older or those who have certain disabilities or illnesses.

Insulin is made by the pancreas and used by the body to convert food into energy. People who have diabetes don’t produce enough insulin. Those with Type 1 diabetes must take insulin every day to survive.

More than 8 million Americans use insulin, according to the American Diabetes Association.

The Wall Street Journal first reported the price cuts Tuesday morning.

A+
a-

In The News

Health

Voting

Health

May 24, 2024
by Dan McCue
Drowning Deaths On the Rise in the United States

WASHINGTON — After decades of decline, drowning deaths are once again on the rise in the United States, according to... Read More

WASHINGTON — After decades of decline, drowning deaths are once again on the rise in the United States, according to a new Vital Signs study by the Centers for Disease Control and Prevention. Over 4,500 people died due to drowning each year from 2020 to 2022,... Read More

HPV Vaccines Prevent Cancer in Men as Well as Women, New Research Suggests

New research suggests the HPV vaccine is preventing cancer in men, as well as in women, but fewer boys than... Read More

New research suggests the HPV vaccine is preventing cancer in men, as well as in women, but fewer boys than girls are getting the shots in the United States. The HPV vaccine was developed to prevent cervical cancer in women and experts give it credit, along... Read More

Black Americans Underrepresented in Residential Care Communities, AP/CNHI News Analysis Finds

Norma Upshaw was living alone south of Nashville when her doctor said she needed to start in-home dialysis. Her closest... Read More

Norma Upshaw was living alone south of Nashville when her doctor said she needed to start in-home dialysis. Her closest family lived 40 miles away, and they’d already scrambled once when the independent senior living facility the 82-year-old had called home — a community of largely... Read More

May 22, 2024
by Dan McCue
CDC Identifies Second Human Bird Flu Case in US

ATLANTA — A Michigan farmworker became the second individual in the United States this year confirmed to have contracted the... Read More

ATLANTA — A Michigan farmworker became the second individual in the United States this year confirmed to have contracted the bird flu after exposure to infected livestock, the Centers for Disease Control and Prevention announced Wednesday. The individual had only mild symptoms of infection with the... Read More

May 22, 2024
by Dan McCue
Senators Say State Abortion Ban Causing Exodus of Women’s Health Care Providers

WASHINGTON — A trio of Democratic senators assailed abortion bans in Republican-led states on Tuesday, pointing to a new report... Read More

WASHINGTON — A trio of Democratic senators assailed abortion bans in Republican-led states on Tuesday, pointing to a new report that suggests those laws are forcing women’s health care providers to turn away patients, shut down practices and abandon those states altogether for fear of prosecution... Read More

May 22, 2024
by Jesse Zucker
Strength Training May Improve Mental Health

WASHINGTON — Do you generally feel good after exercise? It has been well-documented that getting regular physical activity may improve... Read More

WASHINGTON — Do you generally feel good after exercise? It has been well-documented that getting regular physical activity may improve mental health and help decrease symptoms of depression and anxiety, but how does it work? Most research focuses on how cardio exercise impacts mental health. Less... Read More

News From The Well
scroll top