The three major insulin manufacturers in the United States announced measures aimed at significantly reducing insulin costs, vital medicine for patients with diabetes. Sanofi, Novo Nordisk and Eli Lilly implemented monthly caps of US$35 on costs for their products, ensuring cheaper access for those who need it to manage their glucose levels.
Sanofi set a $35 monthly cap on retail costs for Lantus, its most prescribed insulin. For its part, Novo Nordisk launched a program that provides a 30-day supply of insulin for $35, while Eli Lilly instituted an automatic monthly limit of $35. Besides, These manufacturers also reduced the list prices of many of their products.s, some as much as 78 percent.
According to the Department of Health and Human Services (HHS), The number of patients with diabetes is equivalent to 11.3 percent of the population, a relatively high number compared to other chronic diseases. Of the 37.3 million adults with diabetes, only 28.7 million were diagnosed according to figures as of October 2023.
These measures come in response to various pressures, including growing public demand to make insulin more affordable. The entry of new competitors, like Civica Rx, which makes and sells insulin for no more than $30 a vial, has also influenced this decision. Additionally, a change to the Medicaid reimbursement program that took effect on January 1, 2024, has prompted insulin manufacturers to take steps to reduce costs for patients.
Measures to reduce the cost of insulin in the United States date from 2023
The impact of these measures is significant due to the prevalence of diabetes in the country.. Diabetes patients in the United States, especially those who rely on Medicare Part B and Medicare Advantage, already benefited from a $35 monthly cost limit for insulin starting July 1, 2023.
While these measures represent a positive step forward in insulin affordability, it is crucial to note that they do not completely resolve the fundamental problem of high insulin prices in the United States. Insulin makers continue to make hefty profits even after price cutsand affordable access to insulin remains a challenge for many.
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The move is expected to benefit millions of people living with diabetes in the US.
At the federal level, HHS implemented additional measures to reduce drug costs and facilitate price negotiation in Medicare. This is the case of the Inflation Reduction Act (IRA), which empowers Medicare to negotiate prices for high-cost prescription drugs, benefiting the elderly and disabled. Price negotiations began in 2023, with effects expected in 2026.
Although these measures show an effort by the Joe Biden administration to reduce drug costs, face opposition from the pharmaceutical industry. The revised HHS guidance provides details on how drugs will be selected for negotiation and how the negotiation process will be conducted, with the goal of achieving a “fair maximum price.”
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