Sanofi caps out-of-pocket insulin cost at $35 for uninsured U.S. patients

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A logo on the Sanofi exhibition space at the Viva Technology conference dedicated to innovation and startups at Porte de Versailles exhibition center in Paris, France June 15, 2022. REUTERS/Benoit Tessier

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June 29 (Reuters) - French drugmaker Sanofi (SASY.PA) said on Wednesday uninsured diabetes patients in the United States will pay no more than $35 for 30-day supply of insulin, in the wake of heightened public scrutiny over soaring prices of the life-saving drug.

Sanofi said the new price, down from the prior out-of-pocket cost of $99, will be effective from July 1.

U.S. lawmakers have pulled up healthcare companies over rising costs of insulin and the U.S. House of Representatives in March passed a bill capping monthly out-of-pocket insulin costs for those with health insurance at $35. read more

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According to a 2020 Commonwealth Fund study, about two thirds of uninsured insulin users aged 18 to 64 paid the full price - an average of $900 a month - for the life-sustaining medicine.

Sanofi with Eli Lilly and Co (LLY.N) and Novo Nordisk (NOVOb.CO) make up 90% of the U.S. market for insulin. In 2020, Lilly announced a new co-pay scheme that covers most of its insulin products, capping the out-of-pocket cost for insulin to $35 per month.

Around 37.3 million Americans, or 11.3% of the population, have diabetes, according to the American Diabetes Association.

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Reporting by Mrinalika Roy in Bengaluru; Editing by Shinjini Ganguli

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