Washington, D.C. – Senate Majority Leader Chuck Schumer (D-NY) today spoke on the Senate floor on Novo Nordisk moving to slash insulin costs by up to 75%. Their move follows Senate Democrats successfully capping insulin at $35 for Medicare recipients. Below are Senator Schumer’s remarks, which can also be viewed here:
It is another important day for millions of Americans who rely on Insulin: following Eli Lilly’s recent announcement that they’re capping insulin costs at $35 a month, Novo Nordisk announced today that they’re following suit, slashing prices of some insulin products by as much as 75%.
It is good news that these enormous drug pharmaceutical companies are waking up to the injustice of price gouging of Americans who rely on insulin daily. There is no justification—none—for having insulin cost $300 or $500 or more a month. People who need that insulin for their health, for their safety, for their lives can’t afford it anymore. And this means the lowering of price is very important.
As we all know, we Senate Democrats took a major step in righting this wrong by capping insulin costs at $35 a month for Americans on Medicare. It is my hope that both parties can build on this good work with commonsense, bipartisan legislation to extend that $35 cap to all Americans.
Lowering insulin costs is a good policy that everyone on both sides of the aisle should get behind. This is not a Democratic issue. This is not a Republican issue, it’s something that affects people in every city and every state and is an American issue.