Sanofi Joins Lilly and Novo Nordisk to Cut Insulin Prices (Update)
A white paper on what this means to medication cost management
What is the Update?
Following suit of Lilly and Novo Nordisk, Sanofi announced price decreases and caps on their insulin products that would take effect at the beginning of next year. Price decreases would reduce list prices for Sanofi’s Apidra by 70% and Lantus by 78%.
The tables published in last month’s Industry Insights article for Lilly’s and Novo Nordisk’s insulin price reductions have been updated with Sanofi’s estimated price changes.
Fast-Acting Insulin
For Sanofi’s fast-acting insulin, Apidra, the cost will come down from $283.95 to $85.19 for 100 units/10 mL vials and from $548.52 to $164.56 for five packs of 3-mL pens.
Basal Insulins
For basal insulins, Sanofi’s price cut on Lantus applies to both 100 units/10 mL vials and 5 packs of 3-mL pens. The price of vials will drop from $292.07 to $64.26 and the price of pen packs from $438.07 to $96.38. See Table 2b. Sanofi also plans to implement a $35 cap on Lantus for those with commercial insurance. (No change to the referenced Basal detemir in Table 2a.)
What this means?
Payors, including pharmacy benefit managers (PBMs) and government and private insurance plans, may reassess assess insulin products for formulary preferred coverage status, based in part on the discounts and rebates that are provided for these products. It is recommended that the payors discuss with their consultants the impact on their current contract.
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