Last month, three of the largest insulin manufacturers announced they would take steps to reduce the price of their insulins.
Eli Lilly and Company first announced it would reduce the list price for certain insulins by 70% and extend the $35 per month cap on out-of-pocket costs for people with Medicare that was enacted in last year’s Inflation Reduction Act to people with commercial insurance. The Endocrine Society commended Eli Lilly for taking steps to make insulin more affordable and called on the other manufacturers to do the same. A week later Novo Nordisk and Sanofi announced that they would reduce some of their insulin prices in the U.S. up to 75% and 70%, respectively, beginning in 2024.
The Society has championed measures to improve insulin access for years. Last year, President Joe Biden signed the Inflation Reduction Act into law, which included several measures to make insulin more affordable. Most notably, the new law caps the cost of insulin at $35 a month for people on Medicare. The law’s passage was the result of years of Endocrine Society advocacy to make insulin more affordable, including Hill Days, grassroots campaigns, educational Congressional briefings, and efforts to make this a priority in the White House.
The Endocrine Society will continue to urge Congress to expand insulin co-pay caps for people with commercial insurance and the uninsured. The Society recently met with the White House Domestic Policy Council (DPC) and urged the Biden Administration to continue advocating for the $35 co-pay cap for people in the commercial market. We have also met with the co-chairs of the Congressional Diabetes Caucus to discuss their plans to introduce bipartisan insulin legislation. In addition, we are working to educate congressional staff about diabetes issues.
We recently shared a fact sheet, which included information about the prevalence and impact of diabetes nationwide, with all congressional staff who work on health issues and we partnered with the Diabetes Leadership Council (DLC) to circulate the fact sheet during a briefing sponsored by the caucus. In April, the Endocrine Society is hosting a Diabetes Hill Day and have many of our members come to Washington, D.C., to meet with their representatives to talk about diabetes research, treatment, and prevention.