Novo Nordisk Cuts Price on Several Insulin Products by 75%

Novo Nordisk is lowering the U.S. list prices of several insulin products by up to 75%. The lower prices will take effect on Jan. 1, 2024, on both pre-filled 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 the lowered price of each respective branded insulin.

The company’s move follows Eli Lilly recent announcement that is has reduced its insulin prices. Lilly in early March indicated that it was reducing the prices of several insulins by 70% and expanding its Insulin Value Program that caps patient out-of-pocket costs at $35 or less per month.

Novo Nordisk’s price update has been in development for many months, Allison Schneider, director of media relations and issues management for Novo Nordisk, told Formulary Watch, but “due to increased stakeholder interest, we accelerated to announce now.”

The company “recognizes that some patients find it difficult to pay for healthcare, including insulin,” the pharmaceutical manufacturer said. "As such, the company remains committed to reducing the burden of out-of-pocket costs, helping transform the complex pricing system, and fostering better pricing predictability.”

The following changes to Novo Nordisk’s wholesale acquisition cost (WAC) will take effect on Jan 1, 2024:

The new prices of NovoLog and NovoLog Mix 70/30 will be $72.34 for the vial and $139.71 for the FlexPen, which the company says represents 75% off the current price.

Novolin’s new price is $48.20 (vial) and $91.09 (FlexPen) and Levemir’s new price is $107.85 (vial) and $161.77 (FlexPen), which the company says represents 65% off the current list price.

Novo Nordisk will reduce the list price of the following unbranded biologics (pre-filled pens and vials and pre-mix insulins) to match the lowered price of each respective branded insulin: Insulin Aspart and Insulin Aspart Protamine/Insulin Aspart.

Novo Nordisk continues to offer unbranded biologics: Insulin Degludec is currently available at 65% off the list price of Tresiba; Insulin Aspart and Insulin Aspart Protamine/Insulin Aspart are currently available at 50% off the list price of NovoLog and NovoLog Mix.

The company also indicated that it provides several offers that help patients with access, including programs through Walmart and CVS that provide human insulin for about $25 per vial and co-pay savings cards that provide patients with a $25 to $35 copay for several insulin products for eligible patients in commercial insurance plans. Additionally, Novo Nordisk offers

My$99Insulin: 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.

Immediate Supply: A one-time free 30-day supply of insulin (up to three vials or two packs of pens) to eligible patients at risk of rationing.

A Patient Assistance Program: Offers free diabetes medication to people in need who meet certain eligibility criteria.

COVID-19 Patient Assistance Program: Offers 90 days of free insulin to eligible patients who lost healthcare coverage due to COVID-19 job loss.

“We have been working to develop a sustainable path forward that balances patient affordability, market dynamics, and evolving policy changes, said Steve Albers, senior vice president, Market Access & Public Affairs at Novo Nordisk.