March 14 (UPI) -- Drugmaker Novo Nordisk said Tuesday, it will lower the price of several of its pre-filled insulin pens and vials up to 75% for people living with diabetes, starting in January.
The Danish multinational pharmaceutical giant is slashing the cost of its treatments for both Type 1 and Type 2 diabetes.
The 100-year-old company, with production facilities in nine separate countries, said it has been working diligently to come up with a plan to allow it sustainably lower prices for its name-brand and unbranded insulin treatments.
The move follows news earlier this month that fellow pharmaceutical giant Eli Lilly is voluntarily cutting the price of its insulin for all Americans. Indiana-based Eli Lilly is capping out-of-pocket costs for its diabetes treatments at $35 per month or less for patients.
Eli Lilly's changes take effect May 1 and make it the lowest-priced mealtime insulin on the market.
