New York Attorney General Letitia James has successfully reached a five-year agreement with Denmark-based Novo Nordisk to cap the price of insulin at $35 per month for uninsured individuals residing in New York.
Insulin, a life-saving medication for people with diabetes, has seen significant price hikes by leading insulin manufacturers such as Eli Lilly, Novo Nordisk, and Sanofi over the past two decades.
Under this agreement, pharmacies will now be required to inform New Yorkers about the capped price of insulin before they make a purchase, ensuring transparency and affordability.
This development comes after Letitia James’s office secured a similar deal with Eli Lilly and Sanofi just four months ago.
In March, Novo Nordisk had already pledged to reduce the list prices of several insulin drugs in the United States by up to 75% in response to mounting pressure to alleviate the burden of diabetes treatment costs.
Moreover, earlier this year, the Inflation Reduction Act implemented a provision limiting Medicare patients’ copays or out-of-pocket spending on insulin to $35 per month.
This latest agreement is a significant step towards making insulin more accessible and affordable for uninsured individuals in New York.