Sanofi joins insulin price cut trend, caps cost at $35 for privately insured.

Sanofi, the third major insulin manufacturer in the US, has announced a 78% reduction in the price of its most commonly used insulin and will cap out-of-pocket costs at $35 per month for diabetes patients with private health plans. This follows similar moves by Eli Lilly and Novo Nordisk earlier this month. The price cuts are expected to reduce the financial burden on Americans with diabetes who depend on insulin to stay alive. The move comes as the companies face fewer financial incentives to keep prices high on their older insulin products and looming penalties for raising prices faster than inflation.