Novo Nordisk Annual Numbers Don’t Reflect What House Oversight Committee Contends Re: Insulin Price Hikes

In its annual report released yesterday, drugmaker Novo Nordisk said net prices on its insulin product portfolio in the U.S. have decreased by double-digit percentages every year since 2017.

This is in sharp contrast to allegations in December by the House of Representatives’ Oversight Committee that the company engaged in schemes to increase net prices on insulin along with its competitors on the U.S. insulin market between 2001 and 2019.

“We have nothing to hide,” said Novo’s CEO Lars Joergensen during an investor call. “We feel we have done business in the right way in the U.S.”

Novo’s annual report shows that it’s currently embroiled in eight lawsuits in the U.S. related to the pricing of its diabetes drugs.