Novo Nordisk Follows Eli Lilly In Slashing Insulin Prices By 75%

  • Novo Nordisk A/S NVO is lowering the U.S. list prices of some insulin products by up to 75%
  • Products include prefilled pens and vials of basal (long-acting), bolus (short-acting), and pre-mix insulins, specifically Levemir, Novolin, NovoLog, and NovoLog Mix 70/30. 
  • Novo Nordisk is also reducing the list price of unbranded biologics to match each branded insulin's lowered price. 
  • These changes will go into effect on January 1, 2024.
  • Related: House Passes Bill To Cap Out-of-Pocket Insulin Costs To No More Than $35/Month.
  • The new prices of these products will be: NovoLog & NovoLog Mix 70/30 - Vial: $72.34 and FlexPen: $139.71; Levemir - Vial: $107.85 and FlexPen: $161.77; Novolin - Vial: $48.20 and FlexPen: $91.09
  • Also Read: Eli Lilly's Says Inventory For Diabetes Mounjaro Is Available, Probably Ending Shortage
  • Additionally, Novo Nordisk isn't announcing any changes to existing US affordability offerings available to eligible people, including:
    • A program through Walmart for over two decades offers human insulin for approximately $25 per vial; it is also available at CVS for $25.
    • Co-pays for as little as $25-35 for several insulin products in commercial insurance plans.
  • A 30-day supply of a combination of insulin products (up to three vials or two packs of pens) for $99, equating to $33/vial or $49.50/pack of pens.
  • Novo's price cuts follow Eli Lilly And Co LLY decision to reduce list prices for its most commonly prescribed insulin products by 70%, effective Q4 of 2023
  • Lilly also said it would expand a $35 monthly cap on patients' out-of-pocket costs, among other steps. 
  • Price Action: NVO shares are up 1.43% at $142.55 during the premarket session on the last check Tuesday.
  • Photo via Wikimedia Commons
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