Novo Nordisk, Sanofi forge ahead with insulin price hikes: 4 notes

Despite fervent objection from diabetes patients and advocates, European drugmakers Novo Nordisk and Sanofi have raised the prices of insulin in the U.S., according to the Financial Times.

Four things to know:

1. Sanofi raised the price of its three main insulin brands between 4.4 percent to 5.2 percent last week.

2. Novo Nordisk hiked the price of its insulin products just shy of 5 percent on Jan. 8.

3. The insulin price hikes come as anger over insulin prices in the U.S. swells and as political pressure mounts to lower the cost of prescription medicines.

4. "Diabetic patients who require insulin to remain healthy, and in some cases stay alive, were dealt a blow with the latest price increases," said Michael Rea, founder and chief executive of RX Savings Solutions, a company that makes software for pricing prescription drugs.

Read the full report here.

 

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