NEW YORK, March 2 ― US pharmaceutical giant Eli Lilly announced yesterday it would cut the cost of its insulin by 70 per cent, with President Joe Biden calling on others to...
NEW YORK, March 2 ― US pharmaceutical giant Eli Lilly announced yesterday it would cut the cost of its insulin by 70 per cent, with President Joe Biden calling on others to follow suit to tackle soaring drug prices.
While the US$35 cap takes effect immediately, other measures will be implemented in the course of 2023.The incidence of diabetes in the United States in adults has doubled over the last 20 years, afflicting 37.3 million people, according to the US Centers for Disease Control and Prevention. Drug pricing in the United States is affected not only by the cost of producing and distributing the pharmaceutical, but also other players such as insurers and pharmacy benefit management companies.
Both Sanofi and Novo Nordisk released statements to AFP pointing to programmes to help make insulin more affordable, including to uninsured users. But neither company commented directly on whether they would match the Lilly plan.
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