A pharmacist holds a box of the drug Lantus SoloStar, made by Sanofi Pharmaceutical, at a pharmacy in Provo, Utah, January 9, 2020.
George Frey | Reuters
Sanofi on Thursday said it’s planning to cut the US price of its most popular insulin drug by 78% and cap monthly out-of-pocket costs at $35 for people who have private insurance starting next year.
The French drugmaker is the last major insulin manufacturer to try to head off government efforts to cap monthly costs by announcing its own steep price cuts for the lifesaving hormone.
Eli Lilly spirit Novo Nordisk made similar sweeping cuts earlier this month after years of political pressure and public outrage. The three companies control over 90% of the global insulin market.
“Sanofi believes that no one should struggle to pay for their insulin and we are proud of our continued actions to improve access and affordability for millions of patients for many years,” said Olivier Bogillot, Sanofi’s US head of general medicines. The change takes effect Jan. 1.
Roughly 37 million people in the US, or 11.3% of the country’s population, have diabetes, according to the Centers for Disease Control and Prevention.