Novo Nordisk to Stop Insulin Sales in Greece

Novo Nordisk has decided to stop sales of its insulin product in Greece following a government decree ordering a 25% price cut in all medicines, according to a BBC report. The company, which claims it is owed 32 million dollars by the Greek state, said that such a price cut would force its business in Greece to run at a loss. The company was also concerned that the compulsory 25% reduction would have a knock-on effect since other countries use Greece as a key reference point for setting drug prices.

More than 50,000 Greeks with diabetes use Novo Nordisk’s insulin pen products.

Cross-posted on ASweetLife.

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