Spending on insulin has tripled over the past decade, topping $22 billion in 2022. The inflation-adjusted cost of insulin increased 24% from 2017 to 2022. New lower-cost insulin options are becoming available to more Americans with diabetes. Eli Lilly, Novo Nordisk, and Sanofi have announced price cuts and out-of-pocket cost caps for insulin, with the changes taking effect in 2023. Despite these efforts, the big three insulin manufacturers still dominate the market. Civica Rx and rBIO are also working on developing low-cost biosimilar insulins, with Civica Rx setting a target date of 2024 to bring its insulin products to the market. California’s CalRx initiative aims to manufacture and distribute lower-cost generic and biosimilar insulin products, with the goal of eventually developing a manufacturing site in California.
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Biosimilar Insulins Promise Patients New Choices, But Competition Is Still Lacking
