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Attempts to introduce legislation to control insulin costs for diabetics is making a comeback in the U.S. Senate, The Associated Press reported on Wednesday.
The move has received the support of President Joe Biden, and previously, the backing of former President Donald Trump.
The efforts reemerged this week when Senate Majority Leader Chuck Schumer, D-N.Y. wrote to his colleagues: “Negotiations are underway with Senate Republicans on legislation to lower the cost of insulin.”
Notably, Schumer is a co-sponsor of a recent bill introduced by Sen. Raphael Warnock, D-Ga. to require Medicare drug plans, as well as employer and individual policies to cover multiple insulin products for $35 a month.
Previously, the Trump administration negotiated with drugmakers and insurers to offer Medicare enrollees the option to sign up for prescription plans covering insulin for $35 a month. However, the bill brought forward by Warnock aims to codify the program into federal law.
While House Democrats indicated the insulin bill that garners 60 Senate votes would also pass their chamber, Warnock’s bill lacks Republicans as co-sponsors.
Last year, in Mississippi, Eli Lilly (NYSE:LLY), Sanofi (NASDAQ:SNY), and Novo Nordisk (NYSE:NVO) were facing a lawsuit that alleged the companies colluded to keep insulin prices high.
In September, Eli Lilly (LLY) announced a 40% reduction in the U.S. list price of its Insulin Lispro Injection, a low-cost version of the branded Humalog U-100.