MANY AMERICANS STRUGGLE TO PAY FOR OUR MEDICINES AND WE ARE FOCUSED ON WORKING COLLABORATIVELY TOWARD SUSTAINABLE SOLUTIONS
We recognize that people with diabetes are finding it harder to pay for their healthcare, including the medicines we make. As a company focused on improving the lives of people with diabetes, this is not acceptable.
Ensuring access and affordability is a responsibility we share with all involved in healthcare and we are going to do our part. We believe the challenges that patients face are due to a complex healthcare system that continues to evolve. The best approach to viable solutions is through collaboration among pharmaceutical companies, payers, pharmacy benefit managers (PBMs), insurance companies, employers, patient organizations and policy makers.
We welcome and will actively seek collaborations leading to sustainable solutions based on the following three tenets, which we believe are key to making a positive impact on affordability for patients.
- Transforming the complex pricing system: When it comes to drug pricing, the system can be improved. The system we currently have is very complicated – rebates, discounts, administrative fees, co-pays and deductibles all play a role in what our customers, and people with diabetes, pay. We need to work with all involved to simplify and transform the system.
- Creating more pricing predictability: We recognize that customers like PBMs and payers have to effectively manage their healthcare budgets, including anticipating and planning for price increases. We want to be supportive of those efforts. One action we are taking today in support of that is to limit any potential future list price increases to no more than single-digit percentages annually.
- Reducing the burden of out of pocket costs: It’s well documented that a growing number of people with high-deductible health plans – health coverage with lower premiums – face higher costs at the pharmacy counter. While high-deductible health plans were designed to lower costs overall, the reality is that people with diabetes are forced to pay more out-of-pocket. We’re committed to several approaches:
- Continuing our investments in co-pay assistance programs. Our programs will help reduce the out-of-pocket burden for patients, and we will continue our efforts to minimize the effect list prices might have on patients in high deductible plans.
- Maintaining a patient assistance program. To learn more about our patient assistance programs and how to apply, click here or call 866-310-7549.
- Ensuring that there is always a lower-priced treatment option available in the form of human insulin.
- Engaging in policy discussions to make sure people living with diabetes have the best coverage possible.
Read Novo Nordisk's global position on pricing