In a significant development for millions of Americans who rely on insulin, President Joe Biden announced that all three of the leading insulin producers in America have agreed to substantially lower their prices. The move follows the President’s call to expand the $35 cap for seniors to all Americans.
“Charging hundreds of dollars for insulin that costs $10 to produce is just wrong, especially when the lives of so many children, parents, and grandparents depend on it,” Biden stated in a release. Sanofi was specifically mentioned as the latest company to recognize this.
The President reiterated that his administration is striving to provide relief to working people and families, and urged Congress to pass legislation that ensures insulin costs no more than $35 per month. He also called for the passage of a Junk Fee Prevention Act and legislation to increase the affordability and accessibility of childcare.
However, he cautioned against repealing laws such as the Inflation Reduction Act, which he stated would represent one of the largest Medicare benefit cuts in history and increase costs for prescription drugs, health coverage, and home energy, while offering billionaires a tax cut.
“Where Congress won’t work with me, I will continue to speak out and act on my own, just as I have to give millions of families life-changing breathing room on insulin costs,” Biden remarked.
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