Sanofi has announced that it will lower the list price of its insulin drug, Lantus, by 78 percent and will set a $35 cap on out-of-pocket costs for all patients.
The price change and cap will go into effect starting January 1, 2024. They follow a series of moves made last year to lower the price of diabetes medicine, including the launch of an unbranded version of Lantus and a $35 cap for uninsured patients.
Yet, Olivier Bogillot, head of U.S. general medicines at Sanofi, said "the health system was unable to take advantage of it due to its inherent structural challenges."
“Sanofi believes that no one should struggle to pay for their insulin and we are proud of our continued actions to improve access and affordability for millions of patients for many years," he said. "Our decision to cut the list price of our lead insulin needs to be coupled with broader change to the overall system to actually drive savings for patients at the pharmacy counter.”
Sanofi will also cut the price of short-acting Apidra by 70 percent.
Big Business This Week is a guided tour through the biggest market stories of the week, from winning stocks to brutal dips to the facts and forecasts generating buzz on Wall Street. This week we highlight Rivian, Costco, Nokia, Wyndham Hotels & Resorts, Choice Hotels and Rite Aid
Spirit Airlines canceled about 100 flights on Friday after pulling some planes out of service for inspections, and the airline expects the disruptions to last several days.
CVS Health is pulling from its shelves some cough-and-cold treatments that contain an ingredient that has been deemed ineffective by doctors and researchers.
It's almost that time of year - it's open enrollment season. Nate Black, vice president of health solutions product development with Voya Financial, joined Cheddar News to explain the critical decision-making needed when choosing the best coverage for you and your family.
Elon Musk announced two new subscription tiers for people who want the premium experience. This, as some users in some countries may have to pay a very small fee to access the platform for more. Cheddar News' senior reporter Michelle Castillo explains.
