Ahead of Senate Committee Hearing on Insulin Affordability with Drug Manufacturers and Pharmacy Benefit Managers, Shaheen, Collins Underscore Need for Congress to Take Action to Permanently Lower Prices of Lifesaving Medication
**Senators Shaheen and Collins led the bipartisan Improving Needed Safeguards for Users of Lifesaving Insulin Now (INSULIN) Act of 2023*
(Washington, DC) - U.S. Senators Jeanne Shaheen (D-NH) and Susan Collins (R-ME), co-chairs of the Senate Diabetes Caucus, released the following joint statement ahead of the U.S. Senate Committee on Health, Education, Labor and Pensions’ (HELP) The Need to Make Insulin Affordable for All Americans hearing, which will include testimony from the three major insulin manufacturers and pharmacy benefit managers. Shaheen and Collins lead bipartisan legislation in the U.S. Senate, the INSULIN Act of 2023, which would lower the cost of insulin for millions of Americans.
Earlier this year, Shaheen and Collins commended drug manufacturers Lilly, Novo Nordisk and Sanofi’s actions to lower their list prices for their insulin products but have urged further action to permanently provide relief to patients living with diabetes.
“We appreciate Chair Sanders and Ranking Member Cassidy for holding this hearing, which comes at a critical time in Congress as we see increased determination to take overdue action that will lower the cost of insulin. For more than a decade, we’ve partnered on efforts that address the full scope of this issue, and after many conversations and negotiations with lawmakers, advocacy organizations and stakeholders, we wrote a bill that we believe will get at the root problem of surging insulin costs that are putting the lives of Americans with diabetes at risk every single day,” said Shaheen and Collins. “While companies like Novo Nordisk, Sanofi and Eli Lilly have cut prices by 70 percent – which we applaud them for -- we need mechanisms in place to lower prices and keep them down. We believe our proposal is the best path forward to address those problems and also provides the best opportunity to advance meaningful action in Congress. Access to this drug is a matter of life and death for children and adults with Type I diabetes and for some adults with Type 2; with a strong determination from lawmakers on both sides of the aisle, it is critical that we not let this moment pass us by. We look forward to reviewing the testimony today to keep up the pressure in Congress for action.”
The Shaheen-Collins INSULIN Act is supported by a wide coalition of lawmakers and advocacy groups including the American Diabetes Association (ADA), JDRF and the Endocrine Society. Shaheen and Collins have led action in the U.S. Senate to advance priorities that will lower the costs of insulin, invest in treatment and prioritize diabetes research. They have worked together for more than a decade to hold insulin manufacturers, insurers and pharmacy benefit managers accountable for the skyrocketing cost of life-saving insulin.
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