Novo Nordisk reaches pact with New York AG over insulin prices

New York Attorney General Letitia James secured an agreement with insulin manufacturer Novo Nordisk (NVO) to cap the price of insulin at $35 per monthly prescription for uninsured New Yorkers for five years. The agreement also requires Novo Nordisk to implement a program with pharmacies to let uninsured patients know before they pay that they are eligible for the insulin cap. Today’s agreement follows earlier agreements with two other large insulin makers, Eli Lilly (LLY) and Sanofi (SNY), to cap insulin prices at $35 a month for uninsured New Yorkers. “New Yorkers who rely on lifesaving medication like insulin should not have to ration their doses or forgo taking their medicine altogether because they cannot afford it,” said Attorney General James. “Today’s agreement will mean that uninsured New Yorkers do not have to choose between taking their insulin and putting food on the table. I will always use the powers of my office to help protect vulnerable New Yorkers, and to ensure no company takes advantage of them.” As a result of today’s agreement, Novo Nordisk is required to cap the price of their insulin products, including Novolog, Novolin, and Fisap, at $35 per monthly prescription. Additionally, Novo Nordisk is required to implement a streamlined process at the pharmacy counter that would allow pharmacies to automatically advise cash-paying customers of their ability to fill their monthly prescription for $35 before leaving the pharmacy counter. To do this, Novo Nordisk must contract with a third-party messaging company that would immediately notify a pharmacy or pharmacist that an uninsured patient is eligible for the $35 monthly cap when they are filling their prescription. In addition to the $35 monthly cap for any uninsured New Yorker, Novo Nordisk has also agreed to continue offering free insulin to the neediest consumers who meet income thresholds tied to the federal poverty line. Novo Nordisk has also agreed to continue offering its Immediate Supply Program, through which it offers an immediate, free supply of insulin to consumers at risk of rationing due to financial hardship.