{"id":5832,"date":"2023-03-29T03:22:43","date_gmt":"2023-03-29T07:22:43","guid":{"rendered":"https:\/\/lifescivoice.com\/?p=5832"},"modified":"2023-03-29T03:44:19","modified_gmt":"2023-03-29T07:44:19","slug":"sanofi-latest-drug-maker-insulin-price-announcement","status":"publish","type":"post","link":"https:\/\/lifescivoice.com\/sanofi-latest-drug-maker-insulin-price-announcement\/","title":{"rendered":"Sanofi Becomes the Latest Drug Maker to Announce Insulin Price Cuts"},"content":{"rendered":"\n<p>Sanofi has <a href=\"https:\/\/www.sanofi.com\/en\/media-room\/press-releases\/2023\/2023-03-16-20-06-43-2629188\" target=\"_blank\" rel=\"noopener\">announced <\/a>that it will reduce the list price of its popular insulin medication, Lantus, by 78% and set a $35 monthly limit for people with private insurance. The new regulation will be active from January 1, 2024.<\/p>\n\n\n\n<p>Sanofi&#8217;s competitors, <a href=\"https:\/\/lifescivoice.com\/danish-drug-maker-novo-nordisk-invest-744-mln-to-expand-production-facilities-in-denmark\/\">Novo Nordisk<\/a> and Eli Lilly, also took the same action, which urged the company to make these changes as well. These three medicine giants have dominated the insulin market by having a cumulative market share of 90%. The decision to reduce the prices was due to political pressure and public backlash. According to research statistics, close to eight million Americans use insulin for diabetes.<br><\/p>\n\n\n\n<p>Insulin manufacturers have come under increasing public and governmental pressure to lower their prices for more people with diabetes ever since the Inflation Reduction Act established a $35 cap per insulin prescription per month for Medicare enrollees.<br><\/p>\n\n\n\n<script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3812572458252831\" crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-3812572458252831\" data-ad-slot=\"7669348015\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<p><a href=\"https:\/\/lifescivoice.com\/eli-lilly-invests-2-1-b-manufacturing-expansion\/\">Eli Lilly<\/a> announced a series of price reductions that will reduce the cost of its most popular insulin dosage forms by 70%. Eli Lilly also made a major announcement that it would expand its Insulin Value Program, which limits expenses for people without insurance to $35 or less per month. The stated price of Sanofi&#8217;s short-acting Apidra insulin is also being reduced by 70%. The Insulins Valyou Savings Program from Sanofi allows Americans without insurance to purchase one or more insulins in a month for $35.<br><\/p>\n\n\n\n<p>Novo Nordisk also reduced its medication prices by 75% of the list price of a number of its popular pre-filled insulin vials. In general, cutting list prices lowers costs for both the uninsured and individuals with insurance who haven&#8217;t reached their deductibles. The insured often pays a reduced fee that is determined by their insurance plan once their deductibles have been met.<\/p>\n\n\n\n<p>The high cost of insulin, which is manufactured at a comparatively low cost, has long been a topic of discussion. The Inflation Reduction Act, approved by congressional Democrats last year, lowers Medicare users&#8217; out-of-pocket expenses for insulin to $35 per month per prescription as of this year. Republicans argued and stopped the bill that would have also included individuals with private insurance.<\/p>\n\n\n\n<p>Biden advocated for restricting the price of insulin to $35 per month for all Americans in his State of the Union speech last month. The president called Eli Lilly&#8217;s action an excellent start and complimented it, encouraging other pharmaceutical companies to follow suit.<br><\/p>\n\n\n\n<script async=\"\" src=\"https:\/\/pagead2.googlesyndication.com\/pagead\/js\/adsbygoogle.js?client=ca-pub-3812572458252831\" crossorigin=\"anonymous\"><\/script>\n<ins class=\"adsbygoogle\" style=\"display:block; text-align:center;\" data-ad-layout=\"in-article\" data-ad-format=\"fluid\" data-ad-client=\"ca-pub-3812572458252831\" data-ad-slot=\"7669348015\"><\/ins>\n<script>\n     (adsbygoogle = window.adsbygoogle || []).push({});\n<\/script>\n\n\n\n<p>The President of the United States of America, <a href=\"https:\/\/www.whitehouse.gov\/administration\/president-biden\/\" target=\"_blank\" rel=\"noopener\">Joe Biden<\/a>, stated, &#8220;As of this afternoon, all three of the leading insulin producers in America have agreed to substantially reduce their prices, following my calls to expand my $35 cap for seniors to all Americans.&#8221;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Sanofi has announced that it will reduce the list price of its popular insulin medication, Lantus, by 78% and set a $35 monthly limit for people with private insurance. The new regulation will be active from January 1, 2024. Sanofi&#8217;s competitors, Novo Nordisk and Eli Lilly, also took the same action, which urged the company [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":5833,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[26],"tags":[],"class_list":{"0":"post-5832","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-commercial"},"_links":{"self":[{"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/posts\/5832","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/comments?post=5832"}],"version-history":[{"count":2,"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/posts\/5832\/revisions"}],"predecessor-version":[{"id":5840,"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/posts\/5832\/revisions\/5840"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/media\/5833"}],"wp:attachment":[{"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/media?parent=5832"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/categories?post=5832"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lifescivoice.com\/wp-json\/wp\/v2\/tags?post=5832"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}