Sanofi SA said on Thursday it will cut U.S. list prices for its most-prescribed insulin product, Lantus, by 78% starting next year after similar moves by rivals Novo Nordisk and Eli Lilly and Co .
The French drugmaker will also extend its $35 out-of-pocket pricing program to all patients with commercial insurance using Lantus.
Sanofi said it already offered a lower priced version of Lantus but that it had not been taken up widely by insurance programs. About 8.4 million of the 37 million people with diabetes in the U.S. use insulin, according to the American Diabetes Association.U.S. list prices for several insulin products by up to 75% next year. That followed Lilly's March 2 decision to cut list prices by 70% for Humalog and Humulin, its most commonly prescribed insulin products.
The price cuts will allow Sanofi, Novo and Lilly, which combined control about 90% of the U.S. insulin market, to avoid paying substantial rebates to the U.S. government Medicaid program in 2024.
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