New law will help lower the cost of diabetes medication – WAGM

WASHINGTON, D.C. - U.S. Senators Susan Collins (R-ME) and Jeanne Shaheen (D-NH), the co-chairs of the Senate Diabetes Caucus, announced that a provision they advocated for to help increase competition in the insulin market and reduce costs for diabetes patients has been signed into law as part of the appropriations package.

The new law incorporates a component of the Lower Health Care Costs Actwhich Senator Collins voted to advance at a Health Committee hearing in Junethat clarifies that insulin manufacturers cannot receive new exclusivities to block competitors from coming to market as products transition from the drugs pathway to the biological pathway in March 2020. In addition, the law will help lower costs by improving and streamlining the U.S. Food and Drug Administrations (FDA) approval process for new forms of insulin.

Millions of Americans rely on insulin as part of their daily treatment, and virtually all of those with Type 1 diabetes rely on it for survival, says Senator Collins. Senator Shaheen and I work very closely together as co-chairs of the Senate Diabetes Caucus to advance policies that will improve the lives of those with diabetes, and one of our highest priorities is to combat the skyrocketing price of insulin. This provision will build on our bipartisan efforts to make this vital medication more affordable for patients.

Diabetes is a chronic condition and access to insulin can mean the difference between life and death for the millions of Americans living with the disease. Lowering insulin prices and increasing access to this life-saving drug has been a top priority for both Senator Collins and me, which is why Im very relieved this provision to make progress toward that goal is now law, says Senator Shaheen. Ill continue to work across the aisle to build on this progress and will keep fighting for more federal investments to treat and ultimately cure this disease.

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New law will help lower the cost of diabetes medication - WAGM