Insulin costs: Novo Nordisk to lower list price for insulin products, following similar move by Eli Lilly
NBCNov 29, 2022
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.
Pres. Joe Biden has called on Congress to pass legislation capping the monthly price of insulin for all Americans at $35.
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.
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.