It’s official! Starting this week, more Americans now have the opportunity to purchase insulin for just $35, thanks to new pricing implemented by major insulin manufacturers.
Last year, Sanofi, one of the three major insulin companies globally, announced price cuts following news that Novo Nordisk and Eli Lilly had already announced plans to lower prices by up to 75% and 70%, respectively, but some of these price cuts didn’t go into effect until Jan. 1.
According to the American Diabetes Association, in 2022, insulin costs reached $22.3 billion. Despite over 8 million Americans relying on insulin for survival, up to a quarter of these individuals have been unable to afford the medication, often resorting to dangerous rationing of doses.
Under pressure from Congress, the White House, and new market players, insulin manufacturers committed to implementing $35 caps shortly after President Joe Biden urged such actions in his State of the Union address last year.
While the Inflation Reduction Act caps Medicare enrollees' monthly insulin costs at $35, Sanofi set a $35 monthly limit for Lantus, its widely prescribed insulin, for insured and uninsured patients.
Meanwhile, Novo Nordisk's MyInsulinRx program offers a $35 30-day supply, and Eli Lilly established a $35 monthly cap for insured customers and is providing an Insulin Value Program for uninsured individuals.
