Sanofi has said that it will reduce the cost of some of its insulin products to $99 per month in a bid to mitigate burden on diabetes patients in the US.
Patients who are not covered under the federal or state insurance programmes such as Medicare and Medicaid will have access to up to ten boxes of insulin pens and/or 10ml vials per month at the reduced price.
Set to begin from June this year, the initiative is part of the French drugmaker’s Insulins Valyou Savings Program that previously offered one 10ml vial for $99 and a box of pens for $149.
Launched in April last year, the Insulins Valyou Savings Program is said to have led to around $10m in savings for patients.
Sanofi North America Primary Care head Michelle Carnahan said: “By giving those who require both long-acting and/or mealtime insulins or use more than one box of pens or one vial per month access to their insulins for one flat price, we aim to help limit the burden on the individuals who have high out-of-pocket costs at the pharmacy counter.”
The announcement was made hours before Sanofi was to testify before the US Energy and Commerce Committee on the increasing insulin prices in the country.
In January this year, the congressional committee asked Sanofi, Eli Lilly and Novo Nordisk to provide information on the increased insulin costs in recent years and the companies’ profit from these products.
The drugmakers were requested to disclose the average price of their insulin products for the last ten years and also the reasons behind any price hikes.
Sanofi is not the first company to cut insulin charges amid rising pressure to reduce prescription medicine prices.
Last month, Lilly said it would launch a lower-priced, generic version of its insulin injection Humalog. A single vial of the generic is priced at $137.35, 50% less than the current list price of Humalog.