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Novo Nordisk Insulin Sales Soar After Losing Lawsuit to Block Medicare Negotiations
WASHINGTON, DC — Just a week after losing its case to block the Biden-Harris administration’s historic Medicare negotiation program, Novo Nordisk announced $1.86 billion in Q2 2024 earnings—a total bolstered by a 41% increase in US insulin sales. The pharmaceutical giant’s insulin medication, Fiasp/NovoLog, is one of the first 10 medications subject to the Biden-Harris historic Medicare negotiation program. Novo Nordisk charges patients in the United States around 17.5 times more for Fiasp/NovoLog than patients in Australia pay for the same medication.
Half a million Medicare enrollees have prescriptions for Fiasp—that’s half a million seniors and other patients who are more than ready for the financial relief that Medicare’s new negotiation authority offers for their mealtime insulin prescriptions. Novo Nordisk accumulated massive earnings at the same time that they were suing to keep drug costs high. Instead of continuing to clog the courts with baseless lawsuits designed to line their pockets at the expense of struggling patients, Novo Nordisk should get on board with the Biden-Harris administration’s efforts to lower drug costs.”
Accountable.US Executive Director Tony Carrk
As of 2022, Novo Nordisk has brought in $27.3 billion via Medicare payments for Fiasp/NovoLog—over $3,000 per Medicare Part D beneficiary with a prescription for the medication.
Last week’s ruling marks the sixth time a federal court has upheld Medicare’s power to negotiate drug prices. Still, big pharma continues to push its legal challenges to block the Biden-Harris administration from lowering drug costs for millions of Americans.
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