01:37 PM EDT, 03/27/2024 (MT Newswires) -- Novo Nordisk ( NVO ) , Eli Lilly ( LLY ) and Sanofi ( SNY ) dominate more than 90% of the insulin market worldwide and hold an 83% share in low- and middle-income countries, according to a study published by JAMA that raises concerns about pricing for popular diabetes and obesity treatments.

Diabetes is a growing global burden, with costs straining both patients and healthcare budgets, especially in low- and middle-income countries, "yet little is known about the association between manufacturing costs and current market prices," researchers at Yale University, King's College Hospital in London, and Doctors Without Borders said in the report.

The report analyzed prices of insulins, sodium-glucose cotransporter 2 inhibitors, and glucagonlike peptide 1 agonists, if they were closer to the production costs. The study suggests that these can likely be manufactured much cheaper than current prices, making them more accessible.

Novo Nordisk's ( NVO ) diabetes drug Ozempic, which contains Semaglutide, an antidiabetic medication used for the treatment of type 2 diabetes, could be produced for $0.89 to $4.73 for a month's supply, compared with its lowest market price of $38.21 to 353.74, according to the report.

The study suggests that generic and biosimilar competition could lower prices, making diabetes treatment more globally accessible.

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