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Sanofi is now the third insulin maker to cut prices

Sanofi will cut the US list price of two of its insulins, making it the third major producer of the diabetes drug to cut prices recently.

French pharmaceutical maker Sanofi will cut the US list price of Lantus, its most widely prescribed insulin, by 78%, according to a statement Thursday. The company will also reduce Apidra’s list price by 70%.

“We are pleased to see others join our efforts to help patients as we now accelerate the transformation of the US insulin market,” said Olivier Bogillot, US chief of general medicine. “Our decision A move to reduce the list price of our leading insulin must be accompanied by a broader change in the overall system to drive savings for patients at the pharmacy counter.”

Read more: Insulin isn’t the only high cost for people with diabetes

The company will also limit Lantus’ out-of-pocket costs to $35. The moves, due to take effect in 2024, mirror the steps of rivals Eli Lilly & Co and Novo Nordisk A/S.

These price reductions from the big three insulin players follow increased pressure from lawmakers and advocates, who have raised concerns about affordability for patients. Companies could also see financial benefits next year as a result of the price cuts, due to an upcoming change in the amount manufacturers would have to pay Medicaid in reimbursements.

Novo announced Tuesday that it would reduce the list prices of NovoLog and NovoLog Mix 70/30 by 75%. The company is also cutting the prices of Novolin and Levemir, as well as several unbranded insulins. Lilly, the first to announce price changes earlier this month, will reduce prices for Humalog and Humulin by 70% and cap out-of-pocket costs at $35.

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