Sanofi SNY, +1.16% SAN, +0.32% 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, +0.02% and Novo Nordisk NVO, -1.48% NOVO.B, +1.80%. 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, +1.76% is up 1.7%.
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