Sanofi SNYFR:SAN said Thursday that it will cut the U.S. list price of Lantus by 78%, and it will also cap out-of-pocket costs at $35 for the same insulin for people with commercial health insurance, starting in 2024. The French drugmaker’s announcement follows the reduction of insulin prices at Eli Lilly LLY and Novo Nordisk NVODK:NOVO.B. Sanofi said Lantus is its most widely prescribed insulin. U.S.-listed shares of Sanofi are down 0.6% so far this year, while the S&P 500 SPX is up 1.7%.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.