NM attorney general and two manufacturers cap diabetes drug costs in settlements
Under settlement agreements reached earlier this year and announced by New Mexico Attorney General Raúl Torrez on Wednesday, two insulin manufacturers have committed to make the diabetes treatment cheaper for New Mexicans.
'These are huge wins for New Mexicans who have struggled with the outrageous cost of insulin,' Torrez said in a statement. 'These agreements will help people stop rationing medication, avoid financial hardship, and focus on staying healthy. We are holding drug manufacturers accountable and making access to life-saving treatment more equitable.'
New Mexico Department of Justice spokesperson Lauren Rodriguez told Source NM that the agreements provide insured patients who might have a high deductible or copay the option to pay cash instead of using their insurance, and to pay no more than $35 for a monthly supply of insulin, Rodriguez said.
The New Mexico state law enacted in 2020 that caps insulin costs at $25 remains in full force and is not preempted or replaced by the new settlements, Rodriguez said.
Instead, the agreements are 'additive protections mainly aimed at helping cash-paying and uninsured patients, while deferring to state law when it offers better pricing,' she said.
As many as 207,600 adults in New Mexico, or approximately 11% of the state's adult population, have diabetes, according to the American Diabetes Association.
Without the caps, patients in other states could pay $150 per month or more, especially if they require multiple variations of the drug, Stateline reports.
More states are doing what they can to cap insulin costs
High out-of-pocket costs have historically forced many patients to choose between buying insulin and meeting other basic needs, NMDOJ said in a news release. The settlements result from the agency's independent investigations into insulin pricing practices, NMDOJ said.
The state's agreement with Sanofi-Aventis U.S. LLC, signed on April 18, requires the company to maintain its Insulins ValYou Savings Program, which allows patients who pay out-of-pocket to receive a month's supply for $35.
The Sanofi settlement also requires it to maintain its Patient Connection Program, which allows uninsured patients who aren't eligible for Medicaid and whose annual household income is at or below 400% of the federal poverty line to receive insulin for free.
Under the settlement, Sanofi must also provide patients live phone and translation support in Spanish, Hmong, Somali and Mandarin Chinese; and participating pharmacies will receive training to help patients enroll in affordability programs.
The settlement with Novo Nordisk Inc., signed on May 19, requires the company to maintain its MyInsulinRX Program, which offers diabetes patients the option to pay $35 or less for a monthly prescription. Under the agreement, Novo Nordisk must also continue its Patient Assistance Program, which offers insulin for free.
The settlement also requires Novo Nordisk to notify pharmacies about available discounts at the point of sale, help patients enroll on the spot and offer live phone and website chat support in Spanish.
Reporter Danielle Prokop contributed reporting to this story.
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