Novo Nordisk to Cut US Insulin Prices
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....
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.1
- Pres. Joe Biden has called on Congress to pass legislation capping the monthly price of insulin for all Americans at $35.1
- A 2020 study reported that the price of insulin in the US increased by more than $200 from 2007-2018.2
- More than 8M Americans use insulin, which is necessary on a daily basis for patients with Type 1 diabetes.3
Sources: 1Wall Street Journal, 2CBS and 3NPR Online News.
Narratives
- Narrative A, as provided by Pharmacy times. 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.
- Narrative B, as provided by NBC. 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.
