Potential to save Americans an estimated $260 million or more in 2021 on crucial diabetes treatments and other medications
SANTA MONICA, Calif.--(BUSINESS WIRE)--Apr. 27, 2021--
GoodRx (Nasdaq: GDRX), America’s leading resource for healthcare savings, today announced an integrated offering with global biopharmaceutical company Sanofi (Nasdaq: SNY) to streamline patient access to Sanofi discounts. Commercially insured and uninsured patients can now find, apply for, and claim Sanofi manufacturer discounts directly on the GoodRx platform. This integration makes it easier for the millions of people living with diabetes to access insulin, with the potential to save Americans up to $260 million or more on first fill costs in 2021, based on internal estimates. The ability to determine patient eligibility and receive Sanofi manufacturer coupons - that can be used at the pharmacy - directly on the GoodRx platform represents new functionality that will make brand-drug savings more accessible to GoodRx users who qualify.
Diabetes is one of the most common chronic conditions in America, affecting more than 10% of the U.S. population (34.2 million Americans), according to the CDC. The American Diabetes Association estimates the economic burden of diabetes to be $237 billion in direct medical costs as well as $90 billion in indirect costs due to people missing work. According to a recent analysis by GoodRx, the average insulin patient who has insurance pays $4,800 per year, which represents about 10% of the average American’s annual wage. These out-of-pocket costs vary from patient to patient, depending on insurance status, severity of the disease, and even the presence of other chronic conditions. Diabetes patients who don’t have insurance can spend an additional $1,300 in annual expenses.
“Insulin costs can easily overwhelm people living with diabetes. We are proud to partner with Sanofi to make insulins and other prescriptions more affordable for all Americans, regardless of their income status,” said Doug Hirsch, co-CEO and co-founder of GoodRx. “With this new integration, patients can go to the GoodRx site and easily find the Sanofi program that best suits them and apply in real-time, which is a critical step in helping them access the care they need.”
On the GoodRx site, patients can find Sanofi manufacturer savings programs and be guided to the option that best suits their insurance status. The majority of patients who qualify with commercial insurance pay between $0 to $10 for Apidra, Lantus, Multaq, Soliqua 100/33, and Toujeo, while those who are uninsured pay one set price of $99 per month for any one or combination of Admelog, Apidra, Lantus, and Toujeo.
“The combination of Sanofi’s innovative and industry-leading savings programs and GoodRx’s reach to millions of consumers means that we will be able to provide more patients with access to Sanofi programs that may directly reduce out-of-pocket insulin costs for people who need this medicine,” said Chris Boulton, Head of U.S. Diabetes Marketing, Sanofi. “We look forward to continuing to build out our integration with GoodRx so we can help people living with diabetes find the savings program that best suits them.”
GoodRx helps Americans get the healthcare they need at a price they can afford. As America’s leading resource for healthcare savings, GoodRx connects consumers with affordable and convenient prescriptions and medical care, including telehealth, mail order prescriptions, doctor visits, and lab tests. We have helped Americans save over $25 billion since 2011 and are the #1 most downloaded medical app over the last three years.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements contained in this press release that do not relate to matters of historical fact should be considered forward-looking statements, including without limitation statements regarding consumer savings. These statements are neither promises nor guarantees, but involve known and unknown risks, uncertainties and other important factors that may cause our actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, the important factors discussed under the caption “Risk Factors” in GoodRx’s Quarterly Report on Form 10-Q for the quarter ended September 30, 2020, and our other filings with the SEC. These factors could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. Any such forward-looking statements represent management’s estimates as of the date of this press release. While we may elect to update such forward-looking statements at some point in the future, we disclaim any obligation to do so, even if subsequent events cause our views to change.
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