Three's company: Sanofi follows lead of Lilly and Novo, slashes insulin price by 78% and caps out-of-pocket costs
Sanofi today joined with the other two insulin juggernauts in the US to lower the price of its best-selling insulin product, Lantus (insulin glargine), by 78% and set a $35 cap on out-of-pocket costs for Lantus for all patients with commercial insurance. The price shifts will begin in January 2024.
The shift from Sanofi follows Novo Nordisk’s up to 75% price cuts for its insulins, beginning in 2024, and Eli Lilly’s similar 70% discount on its popular Humalog insulin product, which will occur in the fourth quarter of this year.
The three updates all take effect after the federal government lowered OOP costs to $35 per month for everyone on Medicare, and as an upcoming major change in Medicaid policy would leave these companies and potentially others on the hook for larger rebates, creating an incentive for companies to watch their price increases.
“We launched our unbranded biologic for Lantus at 60 percent less than the Lantus list price in June 2022 but, despite this pioneering low-price approach, the health system was unable to take advantage of it due to its inherent structural challenges,” Olivier Bogillot, head of Sanofi’s US general medicines, said in a statement. “We are pleased to see others join our efforts to help patients as we now accelerate the transformation of the U.S. insulin market.”