Sanofi said Wednesday the idea will sell monthly supplies of insulin for a fixed cost of $99 for patients paying with cash inside the U.S. as the pharmaceutical giant faces intense pressure by the Trump administration along with Congress to lower the cost of its nearly 100-year-old, life-saving medication.
The move can be a pre-emptive one as the French drugmaker can be set to testify before the House Energy along with Commerce Committee on the rising prices of insulin later inside the day. Executives by insulin producers Eli Lilly along with Novo Nordisk are also set to testify inside the hearing titled, “Priced out of a lifesaving drug: Getting answers on the rising cost of insulin.”
Sanofi said people can buy up to 10 products — whether vials, pens or a mix of both — for $99. This specific includes all of Sanofi’s insulin brands. Sanofi first introduced the program “”Insulins Valyou Savings” last year, though the idea was more expensive. One 10 milliliter vial of insulin cost $99 along using a box of pens cost $149, meaning which people who needed multiple items could end up paying hundreds of dollars. Patients can participate inside the program regardless of their income level.
The drugmaker says This specific isn’t an attempt to woo lawmakers. The company said the idea decided to expand the program after hearing stories of people rationing their insulin because they couldn’t afford the idea; some even died as a result.
“the idea can be unacceptable to Sanofi which some people living with diabetes are struggling to pay for their insulin, so we have moved to act creatively along with aggressively to help address affordability along with access needs,” said Michelle Carnahan, the head of North America primary care at Sanofi.
The Centers for Disease Control along with Prevention estimates more than 30 million Americans have diabetes. The annual cost of insulin for people with Type 1 diabetes inside the U.S. nearly doubled by 2012 to 2016 to $5,700 by $2,900.
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Drugmakers argue these prices are simply the cost which’s advertised, not what consumers actually pay. yet people without insurance may be forced to pay upfront, sometimes leaving them using a mountain of debt.
Drug companies blame pharmacy benefit managers, sometimes called “middlemen,” for the sticker shock some patients see. They argue which PBMs should pass the rebates negotiated with manufactures along to patients. PBMs deny rebates are to blame for high drug prices. CVS Health along with different pharmacy middlemen told a Senate committee on Tuesday which drugmakers, in their pursuit of profits, are to blame for high drug prices.
The Trump administration earlier This specific year proposed a rule to end the industry-wide system of rebates, a change which Sanofi along with different pharmaceutical companies welcomed.
Sanofi isn’t the first company to announce reducing prices. In March, Eli Lilly announced plans to sell a half-cost variation of its blockbuster insulin medication Humalog, along with also disclosed for initially what the idea charges wholesalers versus what many patients typically pay.