Sanofi plans to invest around €1 billion ($1.1 billion) in the construction of a new insulin production facility in Beijing – the company's largest single investment in China to date. This was reported by Reuters and other news agencies.
Plans by major insulin producers Eli Lilly, NovoNordisk and Sanofi to drop their prices may be undercutting the US state of California’s state-backed generic insulin scheme.
The world's largest insulin producers, Eli Lilly, NovoNordisk and Sanofi are now marching (almost) in lockstep to reduce US market prices, but not without tossing sideward barbs at the system.
Danish drugmaker Novo Nordisk has added its name to the list of insulin producers cutting prices for US retail buyers, following up on Eli Lilly’s announcement of price cuts and in response to growing pressure from the White House.
As the discussion surrounding the high price of insulin in the US continues unabated, drugmaker Eli Lilly implemented price reductions of 70% for its most commonly prescribed insulin products at the beginning of March.
