White House announces deals with Eli Lilly, Novo Nordisk to lower drug costs

The White House announced today that it reached agreements with Eli Lilly and Novo Nordisk to align their drug prices with the lowest paid by other developed nations, known as the most-favored-nation price. Like other recent agreements, Eli Lilly and Novo Nordisk will provide all state Medicaid programs access to MFN prices on their products and must offer medicines at deep discounts off the list price when selling directly to American consumers. In addition, Novo Nordisk committed to a $10 billion investment to expand its U.S. manufacturing capacity, while Eli Lilly announced it would provide at least $27 billion in new U.S. manufacturing investments.