Novo Nordisk, Sanofi and Eli Lilly cut insulin prices and lose share in China's latest cost squeeze

On the centennial of the discovery of insulin, China decided a round of price cuts on the diabetes therapy is due. As a result, foreign companies Novo Nordisk, Sanofi and Eli Lilly are taking a beating in the key market.

Forty-two insulin products from companies foreign and domestic took an average 48% discount to win tenders from China’s public hospitals in the country’s latest volume-based procurement (VBP) scheme, state-run news agency Xinhua reported.