NORFOLK, Va. — Senator Tim Kaine highlights his record on lowering prescription drug prices in a new political ad you may have seen on TV.
There is one specific claim in this ad that jumps out: “He capped insulin at $35. This is what really counts to a lot of people out there.”
Is that true? Let's Verify.
Our sources are the Department of Health and Human Services, the Inflation Reduction Act, and the official websites for Eli Lilly, Novo Nordisk, and Sanofi.
With these sources, we can verify the claim is true. Kaine did work alongside other lawmakers to pass legislation lowering the cost of the drug.
In 2022, Kaine voted in favor of the Inflation Reduction Act which capped the price of insulin at $35 a month for Medicare patients.
According to the US Department of Health and Human Services, the Act saved patients who rely on this drug hundreds of dollars annually in out-of-pocket costs.
The Department says the average out-of-pocket cost was $58 for a 30-day supply in 2019, while patients with private insurance or Medicare paid an average of about $63.
The Act also required drug companies to pay the government a rebate if drug prices rise faster than inflation.
The Act pressured pharmaceutical companies to lower drug prices: this year, Novo Nordisk and Sanofi lowered the cost of their insulin products to $35 a month for most patients; Eli Lilly lowered costs in 2023.
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