Lowered Insulin Prices: What Are the Changes, and When Did They Go Into Effect?
Key takeaways:
The three largest insulin makers in the U.S. — Eli Lilly, Novo Nordisk, and Sanofi — reduced prices on several of their insulin products.
These price reductions impact millions of Americans with diabetes who rely on insulin.
In addition, GoodRx has partnered with Sanofi to make Lantus more accessible for Americans with a valid prescription, regardless of insurance status.
Diabetes is one of the most rapidly growing chronic diseases around the world.
In the U.S., more than 8 million people who live with the condition rely on insulin to regulate their glucose levels. However, an analysis of claims data found that the average price of insulin nearly doubled between 2012 and 2016, potentially making it difficult for people with diabetes to afford their medication.
In August 2022, federal legislation capped the price of insulin at $35 per month for Medicare participants. In March 2023, the three top insulin makers in the U.S. — Eli Lilly, Novo Nordisk, and Sanofi — announced that they would lower prices and offer financial assistance to more people with diabetes.
What changed with the cost of insulin?
As mentioned, Eli Lilly, Novo Nordisk, and Sanofi capped prices on diabetes treatment. Below are some of the changes these manufacturers made to help people save money on insulin:
Eli Lilly cut insulin costs by up to 70%.
Novo Nordisk reduced insulin prices by up to 75%.
Sanofi lowered insulin prices by up to 78%.
In addition, Eli Lilly and Sanofi capped out-of-pocket costs on insulin at $35 per month for people with commercial insurance.
Insulin side effects: Before you use insulin, consider its possible side effects.
Medication interactions with insulin: Learn about common medications that can weaken insulin’s effects.
Save on Lantus (insulin glargine). Whether you have insurance or not, you can save on Lantus and pay as little as $35 per fill for your prescription using a GoodRx coupon.
GoodRx has also partnered with Sanofi to make Lantus more accessible. Since October 2023, all Americans with a valid prescription — regardless of insurance status — have been able to use GoodRx at over 70,000 retail pharmacies nationwide to get a 30-day supply of Lantus for only $35.
What types of insulins were affected?
Below, we detail which insulins from the top three manufacturers were affected by price cuts.
Eli Lilly
Eli Lilly’s price cuts affect its most-prescribed insulins. The following table shows the breakdown.
Medication | Dosage | List price | Date effective |
Generic insulin lispro injection | 100 units/mL | $25 | May 1, 2023 |
Humalog (insulin lispro injection) | 100 units/mL | Cut by 70% | Fourth quarter of 2023 |
Humulin (insulin human injection) | 100 units/mL | Cut by 70% | Fourth quarter of 2023 |
On March 1, 2023, Eli Lilly began limiting out-of-pocket costs to $35 per month at participating pharmacies for people with diabetes who have commercial insurance. People who do not have insurance can sign up for a savings card through the Lilly Insulin Value Program to start paying $35 per month.
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Novo Nordisk
Novo Nordisk lowered prices on prefilled pens and vials of bolus, basal, and pre-mix insulins. The following table reflects the new prices that went into effect on January 1, 2024. However, the company has announced plans to discontinue the Levemir FlexPen and vial by December 31, 2024.
Medication | Device | List price |
NovoLog and | Vial | $72.34 |
NovoLog and | FlexPen | $139.71 |
Vial | $107.85 | |
FlexPen | $161.77 | |
Vial | $48.20 | |
FlexPen (carton of 5) | $91.09 |
In addition, Novo Nordisk reduced the cost of its generic products (insulin aspart and insulin aspart protamine / insulin aspart) to match the lowered brand-name prices, effective January 1, 2024.
Like Eli Lilly, Novo Nordisk also offers savings cards that can reduce insulin costs. With commercial insurance, eligible participants can pay as little as $35 per 30-day supply or up to a maximum of $99 per month for up to 24 months.
In September 2023, Novo Nordisk launched the MyInsulinRx cash offer program, offering a 30-day supply of insulin for $35 to eligible patients, including those without insurance.
Sanofi
Sanofi cut prices on two insulin products. The following table highlights these changes.
Medication | Dosage | List price | Date effective |
Lantus (insulin glargine injection) | 100 units/mL | Cut by 78% | January 1, 2024 |
Apidra (insulin glulisine injection) | 100 units/mL | Cut by 70% | January 1, 2024 |
Sanofi capped out-of-pocket costs for Lantus at $35 per month for people who have commercial insurance, effective January 1, 2024. The manufacturer's Insulins Valyou Savings Program also allows uninsured people to receive this pricing.
As stated earlier, GoodRx has partnered with Sanofi, the maker of Lantus, to offer an exclusive discount for self-pay customers not using insurance. This discount complements other savings programs already available from Sanofi. Eligible individuals can receive a 30-day supply of Lantus for just $35, with terms and conditions applying.
What is the cap on out-of-pocket costs for insulin?
Eli Lilly limited out-of-pocket costs for its insulins to $35 per month for people with commercial insurance. And Sanofi did the same for its Lantus insulin. While Novo Nordisk didn’t cap out-of-pocket costs, the manufacturer provides copay support for several of its insulin products, which allows people who have commercial insurance to pay $35 per month.
Who can get insulin for $35?
People with diabetes who have commercial insurance can get Eli Lilly insulin products or Sanofi’s Lantus product for $35 per month. In addition, both manufacturers have savings programs to help uninsured people get their insulin prescriptions filled for $35 per month.
People with diabetes who have commercial insurance can get Novo Nordisk insulin products for $35 per month using a copay savings card from the manufacturer.
When did these insulin price changes go into effect?
Eli Lilly’s price cut on generic insulin lispro went into effect on May 1, 2023, while the costs of branded products dropped in the fourth quarter of 2023. Novo Nordisk and Sanofi price changes went into effect on January 1, 2024.
How did the Inflation Reduction Act impact insulin prices?
The Inflation Reduction Act was signed into law in August 2022. This legislation capped insulin costs at $35 per month for Medicare recipients.
However, the Inflation Reduction Act insulin cap didn’t apply to people who have other types of insurance or who don’t have insurance. A bill introduced in March 2023, called the Affordable Insulin Now Act, aims to cap the price of insulin for all people with diabetes — regardless of insurance coverage — at $35 for a 30-day supply.
Do I need to do anything in order to get my insulin for $35?
If you have commercial insurance and use an Eli Lilly insulin product or Sanofi’s Lantus product, the $35 cap should be automatically applied at most pharmacies. If you don’t have insurance, you may have to sign up for one of the manufacturers’ savings programs to get your medication for $35 a month. Additionally, if you’re uninsured, you can also use GoodRx to access Sanofi’s Lantus for $35 at over 70,000 pharmacies nationwide. Follow the steps below to download your GoodRx coupon:
Visit www.goodrx.com or download the GoodRx app.
Enter “Lantus” in the search bar.
Click on “Find the lowest prices.”
Text, print, or email your coupon.
If possible, present the coupon at the pharmacy before they start filling your prescription. If you wait until pickup, it may cause a slight delay, as they might need time to adjust the pricing.
If you use a Novo Nordisk insulin product, you will need to apply for a copay savings card from the manufacturer to get your medication for $35 a month.
The bottom line
People who need insulin are starting to get financial relief at the pharmacy counter. Eli Lilly, Novo Nordisk, and Sanofi have all lowered insulin prices. The price reductions, out-of-pocket limits, and savings programs offered by these manufacturers help offset the cost of living with diabetes.
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References
American Diabetes Association. (2022). American Diabetes Association announces support for INSULIN Act at Senate press conference.
Eli Lilly and Company. (2023). Lilly cuts insulin prices by 70% and caps patient insulin out-of-pocket costs at $35 per month.
Eli Lilly and Company. (n.d.) Lilly Insulin Value Program.
Herman, W. H., et al. (2021). 100 years of insulin: Why is insulin so expensive and what can be done to control its cost? Endocrinology and Metabolism Clinics of North America.
Kennedy.Senate.gov. (2023). Kennedy, Warnock introduce bipartisan bill to cap insulin prices, lower cost of diabetic care.
NovoCare. (n.d.). Learn about Novo Nordisk savings offers.
Novo Nordisk. (n.d.) What is Levemir?
Novo Nordisk. (2023). Novo Nordisk expands affordability offering with $35 insulin program called MyInsulinRx.
Novo Nordisk. (2023). Novo Nordisk to lower U.S. prices of several pre-filled insulin pens and vials up to 75% for people living with diabetes in January 2024. PR Newswire.
Saeedi, P., et al. (2019). Global and regional diabetes prevalence estimates for 2019 and projections for 2030 and 2045: Results from the International Diabetes Federation Diabetes Atlas, 9th edition. Diabetes Research and Clinical Practice.
TeamingUp for Diabetes. (n.d.). Savings.
