
After lowering the U.S. pricing of many of its insulin medicines by 75% at the beginning of 2024, Novo Nordisk is bringing the year to a close by stating that it will be lowering the prices of the majority of its other insulins for diabetic patients.
As stated in a press release, Novo has announced that it would reduce the list price of Fiasp by 75% and the list price of Tresiba by 72% in the country. The new pricing structure will be implemented on January 1, 2026. Patients are instructed to inject themselves with Tresiba (insulin deguldec) on a daily basis, while Fiasp (insulin aspart) is administered at mealtimes.
The price drop for Fiasp is comparable to the 75% drop in the list price of NovoLog that went into effect in the country on January 1, 2024. Fiasp is an improved form of NovoLog, which is an insulin aspart and is likewise administered by injection at mealtimes. Fiasp is identical in composition to vitamin B3, and an amino acid has been added to it in order to speed up the rate of digestion and strengthen the therapy.
As an illustration of the reduction, the monthly list price in the United States for the disposable pen known as Fiasp FlexTouch, which comes with a pre-filled cartridge, will go from $559 to $140. The monthly cost of Tresiba’s U-100 FlexTouch will be reduced from $508 to $141, based on the new pricing structure.
“Novo Nordisk is making healthcare professionals, wholesalers and payers aware of the discontinuations more than 12 months in advance, so they can enable smooth transitions to other options,” the company stated.
Novo has mentioned that unbranded versions of many of its insulin products will no longer be found in the market by the end of the upcoming year.
The reductions coincide with the revised pricing that Medicare will be paying for Novo’s insulin supplies starting in 2026, as stipulated by the Inflation Reduction Act (IRA).
Similar to several firms with pharmaceuticals on the list of 10 eligible for early price discussions, Novo filed a lawsuit contesting the validity of the legislation. Four months earlier, a court in New Jersey dismissed the lawsuit, prompting Novo to announce its intention to appeal.
Soon after Eli Lilly cut the price of its insulin in the U.S. by 70% in early 2023, Novo Nordisk and Sanofi swiftly did the same. The reductions followed President Joe Biden’s State of the Union speech, in which he urged Congress to cap out-of-pocket insulin expenses for every individual at $35 per month, aligning with the price established for Medicare users as required by the IRA.
The government’s initiative to lower insulin costs followed reports of individuals in the U.S. limiting their insulin supply. A research published in the Annals of Internal Medicine revealed that in 2021, almost 20% of U.S. individuals either omitted, postponed, or reduced their insulin use to save funds.
Simultaneously, Novo is seeking FDA clearance for a weekly formulation of its insulin, Awiqli (insulin icodec). A manufacturing problem caused the FDA to reject the therapy in July. Awiqli has received approval for Type 1 and Type 2 diabetes in Japan, Canada, Australia and Europe. It has also received endorsement in China for Type 2 diabetes.