Prices

Novo Nordisk to Cut US Insulin Prices

MAR 15 2023·Updated FEB 7 2024

Story

Image credit: npr

The Facts

Previously, some US states instituted price caps on insulin, and the Inflation Reduction Act, which was signed into law last year, mandated that Medicare patients pay no more than $35 a month for insulin.
wsj
Pres. Joe Biden has called on Congress to pass legislation capping the monthly price of insulin for all Americans at $35.
wsj
A 2020 study reported that the price of insulin in the US increased by more than $200 from 2007-2018.
CBS News
More than 8M Americans use insulin, which is necessary on a daily basis for patients with Type 1 diabetes.
NPR

Sources Split

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The Spin

Narrative A

Novo Nordisk wants to do right by its customers. It’s taken some time to formulate a plan that makes insulin more affordable for patients and keeps the company competitive while it deals with changes in US laws. Diabetes patients can rest assured Novo Nordisk’s insulin products will always be affordable.

Pharmacy Times

Narrative B

Novo Nordisk’s decision is a major win for insulin uses, but there are still plenty of price reductions that need to be made. It’s inexcusable that the US is an outlier when it comes to the high cost of insulin, and it’s time for Sanofi, another major insulin maker, to follow suit and reduce its prices.