The move is a pre-emptive one as the French drugmaker is set to testify before the House Energy and Commerce Committee on the rising prices of insulin later in the day.
Sanofi said Wednesday it will sell monthly supplies of insulin for a fixed price of $99 for patients paying with cash in the U.S. as the pharmaceutical giant faces intense pressure from the Trump administration and Congress to lower the cost of its nearly 100-year-old, life-saving medication.
The drugmaker says this isn't an attempt to woo lawmakers. The company said it decided to expand the program after hearing stories of people rationing their insulin because they couldn't afford it; some even died as a result. For more on investing in health-care innovation, click here to join CNBC at our Healthy Returns Summit in New York City on May 21.
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