Novo Nordisk Caps Insulin Prices in Landmark Settlement

Novo Nordisk has agreed to cap insulin prices at $35, settling a lawsuit from Minnesota's Attorney General over allegations of inflated drug prices. The settlement, lasting five years, also provides free insulin to the neediest. Novo Nordisk denies wrongdoing, reflecting its commitment to affordable insulin access.

In a significant legal resolution, Novo Nordisk will cap insulin prices at $35, settling a lawsuit initiated by Minnesota Attorney General Keith Ellison. The pharmaceutical giant faced accusations of exorbitant pricing strategies for the diabetes medication.

The settlement, filed in Newark, New Jersey, federal court, parallels earlier agreements with Eli Lilly and Sanofi. It mandates Novo Nordisk to limit monthly prescription costs to $35, irrespective of insurance coverage, and offer free insulin to low-income Minnesotans.

Despite denying any wrongdoing, Novo Nordisk agreed to the settlement to reflect its dedication to accessible insulin. The company's U.S. headquarters are in New Jersey, and the lawsuit's origins trace back to 2018 under Minnesota's former Attorney General Lori Swanson.

(With inputs from agencies.)