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French pharmaceutical company Sanofi has announced that it will cut the list price of its Lantus (insulin glargine injection) 100 units/ml by 78%, beginning January 2024.

This decision will mean a $35 cap on out-of-pocket costs for Lantus for patients without insurance, bringing it in line with the mandated amount for seniors funded by Medicare in the Inflation Reduction Act.

Sanofi has already taken measures to help patients afford their medication: in June 2022, it launched an unbranded Lantus biologic at -60% vs Lantus list price and cut the list price of its short-acting Apidra (insulin glulisine injection) 100 units/ml by 70%.

This announcement makes Sanofi the third major pharmaceutical company to cut insulin prices: both Eli Lilly and Novo Nordisk also announced price reductions.

Olivier Bogillot, head of US General Medicines at Sanofi, stated: “Sanofi believes that no one should struggle to pay for their insulin and we are proud of our continued actions to improve access and affordability for millions of patients for many years. We launched our unbranded biologic for Lantus at 60% less than the Lantus list price in June 2022 but, despite this pioneering low-price approach, the health system was unable to take advantage of it due to its inherent structural challenges. We are pleased to see others join our efforts to help patients as we now accelerate the transformation of the US insulin market. Our decision to cut the list price of our lead insulin needs to be coupled with broader change to the overall system to actually drive savings for patients at the pharmacy counter.”