More Americans can now get insulin for $35
From CNN, In Print — Jan 2nd, 2024
Sanofi has joined Eli Lilly and Novo Nordisk in capping out-of-pocket insulin costs at $35 for many patients, while also slashing list prices amid mounting political pressure and changes to Medicaid rebates. The three companies’ moves, timed with the removal of a rebate cap on January 1, are expected to save them hundreds of millions of dollars while improving affordability for the 8.4 million Americans who rely on insulin.
Veda Partners’ health policy research director Spencer Perlman noted that lowering list prices allows manufacturers to avoid steep new Medicaid rebate obligations, with Eli Lilly potentially sidestepping $430 million in payments and Sanofi saving as much as $560 million. He emphasized that the financial calculus, alongside public goodwill, explains why major drugmakers are now embracing cost caps long resisted.
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