$35 per month capped insulin for private insurance kept out of Inflation Reduction Act
Aug. 07, 2022 6:19 PM ETPfizer Inc. (PFE), ABBV, MRK, BMYNVO, LLY, SNY, REGNBy: Jonathan Block, SA News Editor193 Comments
- A major piece of legislation approved in the Senate on Sunday did not include a provision that would have capped the monthly cost for insulin to $35 in private insurance plans.
- The Inflation Reduction Act, passed along party lines, does cement a $35 maximum monthly cost for those covered under Medicare.
- In addition, the broad legislation will allow CMS to negotiate the prices of some high-priced prescription drugs and cap out-of-pocket drug expenses to $2000 per year.
- Some of the highest spend by Medicare on drugs include Pfizer (NYSE:PFE)/Bristol-Myers Squibb's (NYSE:BMY) Eliquis (apixaban), AbbVie's (NYSE:ABBV) Humira (aducanumab), Regeneron Pharmaceuticals' (REGN) Eylea (aflibercept), Bristol's (BMY) Revlimid (lenalidomide), and Merck's (NYSE:MRK) Keytruda (pembrolizumab).
- Top insulin makers: Eli Lilly (LLY), Novo Nordisk (NVO), and Sanofi (SNY).
- The bill now goes to the House for approval, where it is expected to pass.
- In late June, Sanofi (SNY) said it would cap the monthly price of its insulin products to $35 for uninsured Americans.