Biden proposal to cap all insulin prices at $35 a month has little chance of passing Congress
Publishing timestamp: 2023-02-09 10:02:13
Summary
President Joe Biden called on Congress during State of Union to cap insulin prices at $35 for all diabetes patients, but the proposal is unlikely to pass the narrowly divided Congress. The Inflation Reduction Act has already capped insulin prices for Medicare recipients at $35 per month, but people with private insurance or without insurance are not protected. There is some bipartisan support for the universal insulin price cap, but it will face a tough battle in Congress. Companies such as Eli Lilly, Novo Nordisk, and Sanofi have mixed reactions to the proposal. 22 states and Washington, D.C. have already capped the price of insulin.
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Keywords: biotechnology, eli lilly and co, novo nordisk a/s, business, biotech and pharmaceuticals, cvs health corp, cigna corp, politics, joe biden, u.s. economy, sanofi sa, unitedhealth group inc, breaking news: business, disease outbreaks, health care industry, business news,