California partners with manufacturer to make affordable generic insulin

[Insulin molecular model image Dr_Microbe/Adobe Stock]

The state of California has established a $50 million collaboration over a decade with the generic drug manufacturer Civica. The goal of the collaboration is to create affordable state-branded generic insulin.

Qualified individuals may obtain a 10-mL vial of generic insulin for $30 or less. California plans to provide a pack containing five prefilled 3 mL pens for $55 or less.

Governor Gavin Newsom hopes California’s emergence as an insulin-maker will lead insulin prices to collapse.

Echoing these efforts, President Biden has made it clear that his administration is dedicated to bringing down health care expenses. In that vein, Biden has urged pharmaceutical giants to rein in insulin prices.

Major insulin makers respond to pressure for lower prices

In recent weeks, Eli Lilly (NYSE:LLY), Novo Nordisk (NYSE:NVO) and Sanofi (Nasdaq:SNY) …

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Sanofi joins Lilly and Novo Nordisk in drastic insulin price reductions

[Image courtesy of ayo888 via iStock Photo]

Paris-based Sanofi (Nasdaq:SNY) is the fastest company to reduce insulin prices. The pharmaceutical behemoth said it would cut  the list price of Lantus (insulin glargine injection) by 78%. Lantus is its most commonly prescribed insulin in the U.S. Moreover, Sanofi will implement a $35 cap on out-of-pocket expenses for users of the insulin.

Sanofi has also pledged to slash the list price of its short-acting Apidra (insulin glulisine injection) 100 units/mL by a 70%.

The company has a 40% share of the U.S. market.

Lilly and Novo Nordisk have similar initiatives

This follows recent announcements from other companies striving to decrease insulin costs. For example, Eli Lilly (NYSE:LLY) committed to capping out-of-pocket expenses for insulin at $35 monthly. Lilly also said it would drop the price of its non-branded insulin to $25 per vial, resulting in cos…

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