Novo Nordisk has announced that it's cutting the price of pre-filled insulin pens and vials by up to 75 percent for people living with diabetes starting in January 2024.
"We have been working to develop a sustainable path forward that balances patient affordability, market dynamics, and evolving policy changes," said Steve Albers, senior vice president of market access and public affairs at Novo Nordisk, Inc. "Novo Nordisk remains committed to ensuring patients living with diabetes can afford our insulins, a responsibility we take seriously."
Earlier this month, rival drugmaker Eli Lilly announced plans to reduce insulin prices by 70 percent and cap patient out-of-pocket costs for insulin at $35 per month.
The Biden administration has put public pressure on drugmakers to make medically necessary insulins more affordable. Novo Nordisk notably did not put a cap on out-of-pocket expenses.
Novo Nordisk will lower the price for four different brands, including NovoLog® and NovoLog® Mix 70/30 by 75 percent and Novolin® and Levemir® by 65 percent.
As inflation-weary consumers cut back on dining out, brands like McDonald’s are relying more heavily on celebrity and influencer endorsements to move the needle
Plus, Starbucks reported its first quarter of declining sales and earnings since the pandemic, Biden tries to tackle the national debt and Warren Buffett is set to host the annual meeting of his investment firm Berkshire Hathaway.
