A pharmacist holds a box of Lantus SoloStar, made by Sanofi Pharmaceutical, at a pharmacy in Provo, Utah, January 9, 2020.
George Frey | Reuters
Sanofi on Thursday said it plans to chop the value of its hottest U.S. insulin drug by 78% and cap monthly out-of-pocket costs to $35 for individuals who have private insurance starting next 12 months.
Along with the widely used Lantus, the French drugmaker will cut the list price of its short-acting insulin Apidra by 70%. Sanofi already offers a $35 monthly insulin allowance for uninsured diabetes patients.
The corporate is the most recent major insulin maker to attempt to frustrate government efforts to chop monthly costs by announcing its own sharp cuts in the value of the life-saving hormone.
Eli Lily AND Recent Nordisk made similar drastic cuts earlier this month after years of political pressure and public outcry over the high cost of diabetes care. Three firms control over 90% of the worldwide insulin market.
“Sanofi believes that nobody should struggle to pay for insulin, and we’re pleased with our ongoing efforts to enhance access and affordability for tens of millions of patients over a few years,” said Olivier Bogillot, Head of General Medicines at Sanofi in the US. The change comes into effect on January 1.
President Joe Biden’s Inflation Reduction Act capped monthly insulin costs for Medicare beneficiaries to $35, but didn’t provide protection for diabetes patients who’re covered by private insurance.
Senator Bernie Sanders, Vermont Independent Member and Chairman of the Senate Committee on Health, Education, Work and Pensions, introduced the draft law earlier this month, which might limit the list price of insulin to $20 per vial.
Each the president and Sanders on Tuesday directly called on Sanofi to chop prices after Novo Nordisk announced its own cuts that day.
About 37 million people in the US, or 11.3% of the country’s population, have diabetes, in response to the information Centers for Disease Control and Prevention. About 8.4 million diabetes patients depend on insulin American Diabetes Association he said.