Novo Nordisk announced today that it plans to lower U.S. prices of several insulin products by up to 75% for those with type 1 and type 2 diabetes.
Products include pre-filled insulin pens and vials of basal, bolus and pre-mix insulins. These specifically include Levemir, Novolin, NovoLog and NovoLog Mix 70/30. Novo Nordisk also plans to reduce the price of unbranded biologics to match the lowered price of each respective branded insulin.
The price cut comes two weeks after Eli Lilly announced plans to cap out-of-pocket insulin costs at $35 with 70% price cuts. Novo Nordisk’s changes go into effect on Jan. 1, 2024. It said the move comes out of its commitment to reducing the burden of out-of-pocket costs.
“We have been working to develop a sustainable path forward that balances patient affordability, market dynamics, and evolving policy changes,” said Steve Albers, SVP, market access & public affairs at Novo Nordisk. “Novo Nordisk remains committed to ensuring patients living with diabetes can afford our insulins, a responsibility we take seriously.”
Details on the Novo Nordisk price cuts for insulin
Novo Nordisk intends to lower the prices of NovoLog and NovoLog Mix 70/30 by 75%. Novolin and Levemir have price cuts of 65% from the current list price. Vials of NovoLog and NovoLog Mix 70/30 will cost $72.34, while FlexPen prefilled with these insulins will cost $139.71. Vial price for Levemir comes in at $107.85, with FlexPen price totaling $161.77. The company plans to sell Novolin vials for $48.20 and FlexPens for $91.09.
It also said the reduced list prices of unbranded biologics match the lowered price of each respective branded insulin. This includes Insulin Aspart and Insulin Aspart Protamine/Insulin Aspart.
Additional U.S. affordability offerings
For people in the U.S. with diabetes, Novo Nordisk currently offers some unbranded biologics at discounts from the list price of branded ones. That includes Insulin Degludec (65% off the list price of Tresiba) and Insulin Aspat and Protamine/Aspart (50% off NovoLog/NovoLog Mix).
The company’s human insulin program through Walmart offers human insulin for $25 per vial. It also offers this at CVS.
Co-pay savings cards from Novo Nordisk allow for co-pays totaling as little as $25-$35 for several insulin products. These savings apply to eligible patients in commercial insurance plans.
A 30-day supply of a combination of insulin products (up to three vials or two packs of pens) costs $99 through the My$99Insulin program. This equates to $33 per vial or $49.50 per pack of pens.
Novo Nordisk offers a one-time free 30-day supply of insulin to eligible patients at risk of rationing, too. This amounts to up to three vials or two packs of pens. Additionally, its patient assistance program offers free diabetes medication to people who meet certain eligibility criteria. The company also offers 90 days of free insulin to eligible patients who lost healthcare coverage due to COVID-19 job loss.