Sen. Bernie Sanders (I-Vt.) on Thursday introduced a bill that would cap the list price of insulin at $20 per vial, building off Eli Lilly’s recently announced $35 monthly insulin cap.
“There is no reason why Americans should pay the highest prices in the world for insulin – in some cases, ten times as much as people in other countries,” Sanders, chair of the Senate Health, Education, Labor and Pensions (HELP) Committee, said in a statement.
Sanders announced the bill, the Insulin for All Act of 2023, alongside Rep. Cori Bush (D-Mo.), a nurse and fellow progressive.
“As a nurse, I’ve seen too many people in our communities struggle to afford their life-saving insulin medication. People are left choosing between insulin or groceries; insulin or rent; insulin or child care. This is unacceptable,” Bush said.
“We cannot solely rely on the whims of pharmaceutical companies to set standards of patient care and determine who can afford medication. Congress must act swiftly to remove the costly burden of insulin for patients with diabetes and save lives,” she added.
Eli Lilly, the leading manufacturer of insulin, announced last week it would cap monthly out-of-pocket insulin costs at $35 a month. The company also announced it would be lowering the list price of its non-branded Lispro insulin from $82.41 to $25 per vial.
Sanders applauded the company’s decision soon after it was announced, crediting public pressure for the major price drop and announcing he planned to introduce a bill capping insulin costs at $20 per vial. The senator has long advocated for drug pricing reforms and is also a prominent proponent of a Medicare for All system.