The Wall Street Journal reported on March 14 that Novo Nordisk will reduce the U.S. list prices of several insulin drugs by up to 75%. This makes the company the latest major pharmaceutical manufacturer to significantly cut prices amid pressures to curb the cost of diabetes treatment.
In the United States and worldwide, Novo Nordisk is one of the largest insulin sellers. The company announced on Tuesday that, starting from January 2024, it will reduce the list price of NovoLog insulin by 75%, and the prices of Novolin and Levemir by 65%. Additionally, Novo Nordisk plans to lower the prices of its unbranded insulin products to match the price reductions of its corresponding branded products.
Novo Nordisk Senior Vice President Steve Albers stated, "We have been working to establish a sustainable path of development that balances affordability for patients, market dynamics, and evolving policy changes. Novo Nordisk remains committed to ensuring that people with diabetes can afford our insulin, a responsibility we take very seriously."