Novo Nordisk plans price cuts for several insulins

By TOM MURPHY
AP Health Writer

Another major insulin maker has promised steep price cuts, as pressure grows on drugmakers and insurers to trim the cost of a medication that millions of Americans need. Novo Nordisk said Tuesday that it will slash some of its U.S. insulin prices up to 75% starting next year. The announcement comes less than two weeks after rival Eli Lilly said it will drop some of its prices by 70% or more later this year. Diabetes care experts say cuts on the initial prices drugmakers charge are only a step toward making insulin more widely affordable.