Novo Nordisk agreed to cap insulin prices to settle a lawsuit in which Minnesota's attorney general accused the three largest insulin makers of charging astronomically high prices for the diabetes drug.

Keith Ellison said he's reached a deal with Danish pharmaceutical company Novo Nordisk to keep the cost of insulin at $35 a month.

Minnesota Attorney General Keith Ellison is expected to announce a "major development" in the litigation against three large insulin manufacturers, which were accused of deceptively raising the price of insulin.