- A major piece of legislation approved in the Senate on Sunday did not include a provision that would have capped the monthly cost for insulin to $35 in private insurance plans.
- The Inflation Reduction Act, passed along party lines, does cement a $35 maximum monthly cost for those covered under Medicare.
- In addition, the broad legislation will allow CMS to negotiate the prices of some high-priced prescription drugs and cap out-of-pocket drug expenses to $2000 per year.
- Some of the highest spend by Medicare on drugs include Pfizer ( NYSE: PFE )/Bristol-Myers Squibb's ( NYSE: BMY ) Eliquis (apixaban), AbbVie's ( NYSE: ABBV ) Humira (aducanumab), Regeneron Pharmaceuticals' ( REGN ) Eylea (aflibercept), Bristol's ( BMY ) Revlimid (lenalidomide), and Merck's ( NYSE: MRK ) Keytruda (pembrolizumab).
- Top insulin makers: Eli Lilly ( LLY ), Novo Nordisk ( NVO ), and Sanofi ( SNY ).
- The bill now goes to the House for approval, where it is expected to pass.
- In late June, Sanofi ( SNY ) said it would cap the monthly price of its insulin products to $35 for uninsured Americans .
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$35 per month capped insulin for private insurance kept out of Inflation Reduction Act