Novo Nordisk to Discontinue Levemir Long-Acting Insulin in the U.S. by End of 2024

Intelligent Finance APP learned that Novo Nordisk (NVO.US) stated on Wednesday that it would stop supplying the long-acting insulin Levemir in the United States due to production limitations, reduced patient access, and the availability of existing alternative drugs. The Danish pharmaceutical company said that the supply disruption would begin in mid-January next year, followed by the discontinuation of the Levemir injection pen in April and the Levemir vial at the end of 2024.

Novo Nordisk said in a statement: "Novo Nordisk will phase out and permanently discontinue Levemir in the United States on December 31, 2024." It noted that "global production limitations, significant prescription losses affecting patient access effective January 2024, and the availability of alternative options in the U.S. market" were key factors in the decision.

Eight months ago, Novo Nordisk stated that in response to the increasing political pressure regarding insulin prices, the company would reduce the pricing of several insulin products in the United States next year, including a 65% price cut for Levemir. Previously, Eli Lilly (LLY.US) also issued a similar statement.

It is understood that Levemir, for example, is a type of long-acting basal insulin that is injected once or twice daily, rather than being rapid-acting, short-term, or intermediate-acting insulin. This insulin is commonly used for patients with type 1 diabetes and sometimes for those with type 2 diabetes.

In addition, Novo Nordisk has another long-acting insulin on the market, Tresiba, which is also a basal insulin.

Novo Nordisk has been a major beneficiary of the global weight-loss drug boom, surpassing LVMH this year to become the most valuable publicly traded company in Europe. The company reported record-high operating profits in the third quarter, with sales of its weight-loss drug Wegovy reaching $1.36 billion, marking a 28% increase from the previous quarter.

The same is true for its competitor, Eli Lilly. It was reported that the weight-loss drug under Eli Lilly received approval from the U.S. Food and Drug Administration (FDA) on Wednesday.

According to the American Diabetes Association, about 8.4 million of the 37 million people with diabetes in the United States use insulin.