PRICE GOUGING

Sanofi to cut price of its most-prescribed insulin by 78% in US

March 16, 2023 — 

Written by Patrick Wingrove and Pratik Jain for Reuters ->

March 16 (Reuters) - Sanofi SA SASY.PA said on Thursday it will cut U.S. list prices for its most-prescribed insulin product, Lantus, starting next year after a similar move by rivals Novo Nordisk NOVOb.CO and Eli Lilly and Co LLY.N.

The French drugmaker will also set a $35 cap on out-of-pocket costs for Lantus for all patients with commercial insurance.

The move comes as U.S. President Joe Biden has pushed to extend to most Americans the $35 cap on out-of-pocket insulin costs made available to Medicare recipients by the Inflation Reduction Act.

Sanofi will also cut the list price for a type of fast-acting insulin, Apidra, by 70%, that helps to lower blood sugar levels in patients with type 1 and type 2 diabetes.

Novo Nordisk and Eli Lilly bowed to political pressure earlier this month to make these life-sustaining diabetes treatments more affordable.

(Reporting by Patrick Wingrove in New York and Pratik Jain in Bengaluru; Editing by Maju Samuel and Shounak Dasgupta)