Bloomberg Law
March 16, 2023, 8:38 PM

Insulin Price Cuts Could Be Good for Pharma Profits: Lisa Jarvis (1)

Lisa Jarvis

Earlier this month, President Joe Biden gave Eli Lilly & Co. a shoutout on Twitter for its decision to slash insulin prices on the heels of his administration’s cap on insulin costs for Medicare recipients. He ended with a call to action: “Let’s keep it going.”

Novo Nordisk apparently was listening. This week, the company announced price cuts to its own insulin products and today, Sanofi, the third main player in the insulin market, followed suit.

Drug companies are riding a positive PR wave over the moves, but let’s be clear: The cuts weren’t an act of altruism or even, ...