By using this site, you agree to the Privacy Policy and Terms of Use.
Accept
IndebtaIndebta
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Notification Show More
Aa
IndebtaIndebta
Aa
  • Banking
  • Credit Cards
  • Loans
  • Dept Management
  • Mortgage
  • Markets
  • Investing
  • Small Business
  • Videos
  • Home
  • News
  • Banking
  • Credit Cards
  • Loans
  • Mortgage
  • Investing
  • Markets
    • Stocks
    • Commodities
    • Crypto
    • Forex
  • Videos
  • More
    • Finance
    • Dept Management
    • Small Business
Follow US
Indebta > Markets > Stocks > US senators push drugmakers for details on low-cost insulin programs
Stocks

US senators push drugmakers for details on low-cost insulin programs

News Room
Last updated: 2023/08/31 at 3:34 PM
By News Room
Share
3 Min Read
SHARE
3/3

© Reuters. FILE PHOTO: Boxes of the drug NovoLog, made by Novo Nordisk Pharmaceutical, sit on a counter at a pharmacy in Provo, Utah, U.S. January 9, 2020. REUTERS/George Frey/File Photo

2/3

By Patrick Wingrove

(Reuters) -Two U.S. senators are demanding that the nation’s three largest insulin makers, Novo Nordisk (NYSE:), Eli Lilly (NYSE:), and Sanofi (NASDAQ:), provide details by Sept. 15 of their programs to help Americans get their insulin for $35 a month or less.

Democratic Senators Maggie Hassan and Tina Smith sent a letter asking the drugmakers for information on eligibility criteria for the programs, including whether a patient’s insurance status or income barred them from joining, and the steps insulin users had to take to sign up.

Novo, Lilly and Sanofi, which account for 90% of the U.S. insulin market, pledged in March to lower the list prices of many of their insulin products by 70%-78% later this year or in 2024. The Biden administration and some lawmakers have continued to press them to lower the costs of the medicines.

The White House on Tuesday announced that a Novo insulin was among the 10 high-cost prescription drugs selected for the first-ever price negotiations by the U.S. Medicare health program that covers 66 million people.

In July, Senator Elizabeth Warren, a Democrat, released a report showing that pharmacies were charging as much as $330 for Lilly’s generic insulin, despite the drugmaker having lowered the cost to $25 a vial. Lilly said it did not control how much pharmacies demand for its drugs.

Hassan and Smith argued that to enroll in the drugmakers’ insulin programs, patients had to go through a lengthy and complicated process that required them fill out five to 10 pages of documentation and wait an unknown amount of time for approval.

The senators asked for copies of the applications for each of the companies’ programs, for details of any additional steps patients had to take to join, and average wait times before approval, as well as what personal and medical information patients had to hand over.

A Sanofi spokesperson said the company planned to respond to the letter but did not comment on its contents. Lilly and Novo did not immediately respond to requests for comment.

Around 8.4 million of the 37 million people in the United States with diabetes use insulin, according to the American Diabetes Association.

Read the full article here

News Room August 31, 2023 August 31, 2023
Share this Article
Facebook Twitter Copy Link Print
Leave a comment Leave a comment

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Finance Weekly Newsletter

Join now for the latest news, tips, and analysis about personal finance, credit cards, dept management, and many more from our experts.
Join Now
Google and Anthropic reportedly in cloud deal talks, Netflix falls after earnings miss

Watch full video on YouTube

Why Manhattan Condos Are Selling At A Loss

Watch full video on YouTube

Delaware high court reinstates Elon Musk’s $56bn Tesla pay package

Unlock the Editor’s Digest for freeRoula Khalaf, Editor of the FT, selects…

How Ford’s bet on an electric ‘truck of the future’ led to a $19.5bn writedown

Ford chief executive Jim Farley declared his all-electric F-150 Lightning the “truck…

Which genius from history would have been the best investor?

With hedge fund founders peppering the Forbes list of billionaires, top traders…

- Advertisement -
Ad imageAd image

You Might Also Like

Stocks

Playa Hotels & Resorts (NASDAQ:PLYA) Delivers Strong Q4 Numbers By Stock Story

By News Room
Stocks

ON24 (NYSE:ONTF) Posts Better-Than-Expected Sales In Q4 By Stock Story

By News Room
Stocks

Evolent Health shares leap on Q4 earnings beat and upbeat guidance By Investing.com

By News Room
Stocks

Chuy’s (NASDAQ:CHUY) Reports Q4 In Line With Expectations But Stock Drops

By News Room
Stocks

Red River Bancshares raises dividend to $0.09 per share

By News Room
Stocks

Ecolab appoints Microsoft executive to board

By News Room
Stocks

Semilux secures $50 million equity deal with White Lion Capital

By News Room
Stocks

US government debt trajectory to push long-term yields higher, says PIMCO

By News Room
Facebook Twitter Pinterest Youtube Instagram
Company
  • Privacy Policy
  • Terms & Conditions
  • Press Release
  • Contact
  • Advertisement
More Info
  • Newsletter
  • Market Data
  • Credit Cards
  • Videos

Sign Up For Free

Subscribe to our newsletter and don't miss out on our programs, webinars and trainings.

I have read and agree to the terms & conditions
Join Community

2023 © Indepta.com. All Rights Reserved.

Welcome Back!

Sign in to your account

Lost your password?