The top three insulin makers now charge only $35 a month for privately insured

TAfter Congress’ political pressure, the three largest insulin producers in America have announced that they will limit out-of-pocket prices for their insulin products to $35 per month.

Sanofi and Eli Lilly together account for about 90% of the U.S. insulin market. President Joe Biden, along with congressional leaders, has called for lower insulin prices for those on commercial plans. The Inflation Reduction Act caps out-of pocket insulin costs at $35 per calendar month for Medicare beneficiaries.

French pharmaceutical company Sanofi said Thursday that it would limit the monthly out-of pocket costs for its most popular insulin Lantus to $35 for patients who have insurance. It also announced that Apidra will be priced at 70% less starting in the new year.

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Biden sees the reductions as a victory in the application of pressure.

“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. Sanofi is the latest company to recognize that charging hundreds of dollars for insulin that costs $10 to produce is just wrong, especially when the lives of so many children, parents, and grandparents depend on it,” Biden made the statement in a statement on Thursday.

“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. Our decision to cut the list price of our lead insulin needs to be coupled with broader change to the overall system to actually drive savings for patients at the pharmacy counter,” Olivier Bogillot is the U.S. head of general medicines for Sanofi.

Sanofi already caps insulin at $35 per person for those without insurance.

Chuck Schumer, the Senate Majority Leader (D-NY), asked Sanofi to reduce the insulin list price voluntarily after Novo Nordisk and Eli Lilly announceds. He claimed that this would help save money. “save lives and move our country one step closer to ending our insulin affordability crisis.”

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During negotiations for the Inflation Reduction Act (the law), Republican senators rejected a proposal to increase the insulin price cap for private insurance. However, the law passed later without GOP support.

In his budget proposal last week, Biden included a provision to limit monthly out-of-pocket insulin costs at $35 for commercial plan members.