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.
Shan Aggarwal, VP of Corporate and Business Development at Coinbase, discusses the company's acquisitio of Deribit as it heads into the S&P 500. Watch!
American businesses that rely on Chinese goods are reacting with muted relief after the U.S. and China agreed to pause their exorbitant tariffs on each other’s products for 90 days. Many companies delayed or canceled orders after President Donald Trump last month put a 145% tariff on items made in China. Importers still face relatively high tariffs, however, as well as uncertainty over what will happen in the coming weeks and months. The temporary truce was announced as retailers and their suppliers are looking to finalize their plans and orders for the holiday shopping season. They’re concerned a mad scramble to get goods onto ships will lead to bottlenecks and increased shipping costs.
Shopping expert Trae Bodge discusses how talks between the U.S. and China is good news for now, but uncertainty remains for back-to-school and the holidays.
Jake Traylor, White House reporter at Politico, joins Cheddar to discuss how Trump is aiming to lower drug prices and how it differs from Biden's approach.
DJ X, alongside Molly Holder, Senior Director of Product Personalization, takes us inside Spotify's A.I. DJ and how it's the best new way to listen to music.
