Sanofi to reduce insulin prices by over 78 percent
New England Council member, Sanofi, announced it will reduce the price of insulin by over 78 percent.
Starting in 2024, Sanofi will be following major pharmaceutical companies, Eli Lilly and Novo Nordisk, by decreasing the list price of insulin to only $35 per month. Together, these three companies control about 90 percent of the insulin market in the United States. Under Sanofi’s new policy, the cap will automatically go into effect at the pharmacy counter which will allow more Americans to gain access to this life-saving drug without paying inflated prices.
“We are pleased to see others join our efforts to help patients as we now accelerate the transformation of the U.S. insulin market,” said Olivier Bogillot, Sanofi’s U.S. General Medicines Chief. “Our decision to cut the list price of our lead insulin needs to be coupled with a broader change to the overall system to actually drive savings for patients at the pharmacy counter.”
The New England Council commends Sanofi’s dedication to decreasing prescription drug prices.
Read more from the New York Times and Fierce Pharma.