Tuesday, November 7, 2023

Novo Nordisk to Cut U.S. Insulin Costs by Up to 75% After Eli Lilly’s Move

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Novo Nordisk has announced that it will be reducing the cost of insulin in the United States by up to 75%, following a similar move by Eli Lilly. This decision comes after years of criticism over the high cost of insulin in the U.S., which has led to many people rationing their medication or going without it altogether.

Novo Nordisk, one of the world’s largest insulin manufacturers, has stated that it will be offering a new, lower-priced version of its insulin product, Novolog, which will be available in vials and pens. The company has also said that it will be expanding its patient assistance program to help those who are struggling to afford their medication.

The move by Novo Nordisk follows a similar announcement by Eli Lilly earlier this year, in which the company said that it would be introducing a lower-priced version of its insulin product, Humalog. Eli Lilly also said that it would be capping the cost of insulin for people with low incomes at $35 per month.

The high cost of insulin in the U.S. has been a major issue for many years, with some people paying hundreds or even thousands of dollars per month for their medication. This has led to a growing number of people rationing their insulin or going without it altogether, which can have serious health consequences.

Insulin is a life-saving medication for people with diabetes, and it is estimated that around 7.5 million people in the U.S. rely on it to manage their condition. However, the cost of insulin has risen dramatically in recent years, with some experts blaming the lack of competition in the insulin market for the high prices.

In response to the high cost of insulin, a number of advocacy groups and lawmakers have been calling for action to be taken to make the medication more affordable. Some have called for the government to regulate the price of insulin, while others have called for more competition in the market.

The move by Novo Nordisk and Eli Lilly to reduce the cost of insulin is a positive step towards making the medication more affordable for those who need it. However, some critics have argued that more needs to be done to address the underlying issues that have led to the high cost of insulin in the first place.

For example, some have called for greater transparency in the pricing of insulin, so that patients can better understand why they are being charged so much for their medication. Others have called for more investment in research and development of new insulin products, which could help to drive down costs in the long term.

Despite these challenges, the move by Novo Nordisk and Eli Lilly to reduce the cost of insulin is a welcome development for many people with diabetes in the U.S. It is hoped that other insulin manufacturers will follow suit, and that further action will be taken to make this life-saving medication more affordable for all who need it.

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