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French pharmaceutical company Sanofi announced Thursday that it will cut the list price of its U.S. insulin drug, Lantus, by 78% and will cap the cost of the drug at $35 per month for people with private insurance, making it the third major insulin provider to cut costs for consumers.
As of May 1, non-branded insulins will cost $25 a vial, and Lilly says it will immediately cap out-of-pocket costs at $35 per month.
California Gov. Gavin Newsom says the state government will manufacture its own low-cost insulin to make the drug more affordable for residents.