![]() In the US alone, the number of adults with diabetes has doubled over the past 20 years, and more than 37.3 million people now have it, according to the CDC. The trend has continued, with the average retail price of insulin rising 54% between 20, according to GoodRx, which tracks drug prices, provides coupons and operates a telemedicine platform.ĭemand for insulin has grown significantly as diabetes has become the fastest-growing chronic disease in the world, a 2022 study found. The average price of insulin nearly tripled between 20, the American Diabetes Association says. He noted Novo Nordisk's announcement in a speech about lowering drug prices Wednesday.Īt least 16.5% of people in the US who use insulin report rationing it because of cost, according to the US Centers for Disease Control and Prevention. And he later praised Eli Lilly's move, describing it as "a big deal" and calling on other drugmakers to do the same. In his State of the Union address last month, Biden called for capping the cost of insulin at $35 a month for all Americans. Republicans blocked a measure to extend that price cap to those covered by private insurance. ![]() Last year, congressional Democrats passed the Inflation Reduction Act, which reduces Medicare beneficiaries' out-of-pocket cost for insulin to $35 per month per prescription starting this year. The high cost of insulin, which is relatively cheap to manufacture, has been in the spotlight for many years. Once the insured have satisfied their deductibles, they typically pay a lower price that is set by their insurance plan. Reducing list prices generally helps lower costs for insured Americans who have not met their deductibles and for the uninsured. It runs several programs to lower costs for people with diabetes. However, the company did not announce an expansion of its programs that cut patients' out-of-pocket costs, which has been a focus of President Joe Biden and congressional Democrats. Then, Novo Nordisk said Tuesday that it will slash the list prices of several of its popular pre-filled insulin pens and vials by up to 75%. Eli Lilly also said it will automatically cap out-of-pocket insulin costs at $35 for people who have private insurance and use participating pharmacies, as well as expand its Insulin Value Program, which caps out-of-pocket costs at $35 or less per month for people who are uninsured. Another offer allows the uninsured to buy the Soliqua injection for as little as $99 per box of pens, for up to two boxes of pens for a 30-day supply.Įarlier this month, Eli Lilly announced a series of price cuts that would lower the price of the most commonly used forms of its insulin by 70%. Uninsured Americans are eligible for Sanofi's Insulins Valyou Savings Program, which enables them to buy one or multiple insulins for a 30-day supply for $35. ![]() Sanofi is also cutting the list price of its short-acting Apidra insulin by 70%. Insulin manufacturers have come under increased public and government pressure to lower their prices for more people with diabetes in the wake of the Inflation Reduction Act, which set a $35 cap per insulin prescription per month for Medicare beneficiaries. ![]() The three companies dominate the global insulin market. The move follows similar ones by Eli Lilly and Novo Nordisk this month. Sanofi is cutting the list price of Lantus, its most widely prescribed insulin in the US, by 78% and establishing a $35 monthly cap for those with private insurance, the company announced Thursday. ABC7 New York 24/7 Eyewitness News Stream ![]()
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