WASHINGTON – U.S. Senators Kevin Cramer (R-ND), Dick Durbin (D-IL), and Tina Smith (D-MN) today introduced the Affordable Insulin Approvals Now Act, a bipartisan bill to speed up approvals of lower-cost, generic, and “follow-on” insulin products in order to help lower costs of the life-saving drug. Approximately 7.5 million Americans with diabetes rely on insulin every day to survive, yet the drug has experienced a price increase of more than 600 percent over the past two decades in the United States. Today’s legislation would lower the price of insulin by promoting competition and bringing lower-cost generic products to market sooner—specifically by requiring FDA to continue reviewing generic insulin applications even after the agency’s currently planned March 2020 cut-off date.
“More generic insulin in the market means lower costs for those in need. Our bill encourages competition and free market solutions to the rising cost of this life-saving drug,” said Cramer.
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