Biotech
Friday, October 20th, 2023 2:05 pm EDT
Key Points
- GoodRx and Sanofi have partnered to offer Americans access to Sanofi’s widely prescribed insulin, Lantus, for a fixed price of $35, regardless of their insurance status. This initiative provides a $35 coupon for Lantus to patients with a valid prescription, which can be redeemed at over 70,000 retail pharmacies across the United States.
- Sanofi, along with insulin manufacturers Eli Lilly and Novo Nordisk, had previously announced insulin price reductions and out-of-pocket cost caps in response to political pressure and public outrage over the high costs of diabetes care in the U.S. These three companies collectively control more than 90% of the global insulin market, and Americans pay significantly more for insulin compared to other developed countries, making diabetes the country’s most expensive chronic condition.
- While Sanofi pledged to lower list prices for Lantus and cap out-of-pocket costs for insured individuals at $35 a month, these changes are set to take effect in January. Sanofi also has an existing patient assistance program to limit insulin costs for uninsured diabetes patients at the same $35 price. However, the limited awareness among patients about such programs has hindered access to the $35 price point, raising concerns about the complexity of copay cards and patient savings programs. President Joe Biden’s Inflation Reduction Act has capped monthly insulin costs at $35 for Medicare beneficiaries but does not offer similar protection to diabetes patients with private insurance. An estimated 37 million people in the U.S. have diabetes, with approximately 8.4 million relying on insulin.
The prescription drug savings company GoodRx has partnered with Sanofi to offer Americans access to Sanofi’s widely prescribed insulin, Lantus, for just $35. This initiative allows patients with a valid prescription to obtain a $35 coupon for Lantus on GoodRx’s website, which can be redeemed at over 70,000 retail pharmacies nationwide, including CVS, Walgreens, and Walmart. This move aims to provide more widespread access to Lantus at the $35 price point, even though Sanofi, along with insulin manufacturers Eli Lilly and Novo Nordisk, had previously announced insulin price reductions and out-of-pocket cost caps in response to political pressure and public outcry over the high costs of diabetes care in the U.S.
Despite Sanofi’s earlier commitment to reduce list prices for Lantus and cap out-of-pocket costs for insured individuals at $35 per month, these changes won’t take effect until January. While Sanofi has an existing patient assistance program to limit insulin costs for uninsured diabetes patients at the same $35 price, some individuals have encountered difficulties in accessing this price due to low awareness about copay cards and patient savings programs. Patient advocates and health experts have expressed concerns that these programs, typically run by manufacturers, often involve complex processes to save money.
President Joe Biden’s Inflation Reduction Act has also limited monthly insulin costs to $35 for Medicare beneficiaries but does not provide similar protection for diabetes patients with private insurance. In the U.S., approximately 37 million people have diabetes, with around 8.4 million relying on insulin, making it the country’s most expensive chronic condition, as Americans pay around eight times more for insulin than residents of other developed nations.
For the full original article on CNBC, please click here: https://www.cnbc.com/2023/10/19/sanofi-to-offer-insulin-for-35-to-americans-through-goodrx.html
