Sanofi SA
NASDAQ:SNY

  • LAST PRICE
    48.3500
  • TODAY'S CHANGE (%)
    0.0000 (0.0000%)
  • Bid / Lots
    48.5000/ 10
  • Ask / Lots
    48.5300/ 16
  • Open / Previous Close
    --- / 48.3500
  • Day Range
    ---
  • 52 Week Range
    45.2200
    58.9700
  • Volume
    1,538

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  • Yesterday

      Show headlines and story abstract

    • 4:15AM ET on Monday Nov 25, 2024 by Dow Jones
      Companies Mentioned: SNY

      0914 GMT - Sanofi's revised hospital drug-discount program in the U.S. holds long-term promise, although industry-wide implementation hurdles persist, Bryan Garnier Health analysts say in a note. The U.S. federal program, known as 340B and aimed at vulnerable patients, is increasingly used by hospitals to profit by charging the drugs' list prices while purchasing them at a discount, the analysts say. Under its new plan, Sanofi requires institutions to provide medical claims information before receiving discounts. Eli Lilly and Johnson & Johnson this month sued the federal government for rejecting similar rebate proposals. Sanofi reported in 2023 that discounts under Medicare and 340B led to a 15.7% decrease in its portfolio net price. Shares fall 0.3% to 92.89 euros. (helena.smolak@wsj.com)

  • Nov 22, 2024

      Show headlines and story abstract

    • 5:20PM ET on Friday Nov 22, 2024 by Dow Jones
      Companies Mentioned: SNY

      By Jared S. Hopkins

      An industry fight against lucrative drug discounts for hospitals is intensifying as another drugmaker joins the battle: Sanofi.

      The pharmaceutical company plans to change its policy on how it gives discounts to certain hospitals. Sanofi will require institutions to provide pharmacy and medical claims information before receiving federally mandated discounts. The company sent a letter, which was viewed by The Wall Street Journal, to hospitals outlining its new model on Friday , according to people familiar with the matter.

    • 12:27PM ET on Friday Nov 22, 2024 by MT Newswires
      Companies Mentioned: SNY
      12:27 PM EST, 11/22/2024 (MT Newswires) -- Sanofi (SNY) is planning to revise its policy regarding drug discounts for certain hospitals, The Wall Street Journal reported Friday, citing people familiar with the matter. Under the new policy, hospitals...

    • 11:39AM ET on Friday Nov 22, 2024 by Dow Jones
      Companies Mentioned: SNY

      By Jared S. Hopkins

      An industry fight against lucrative drug discounts for hospitals is intensifying as another drugmaker joins the battle: Sanofi.

      The pharmaceutical company plans to change its policy on how it gives discounts to certain hospitals. Sanofi will require institutions to provide pharmacy and medical claims information before receiving federally mandated discounts. The company plans to send a letter, which was reviewed by The Wall Street Journal, to hospitals outlining its new model on Friday , according to people familiar with the matter.

    • 11:34AM ET on Friday Nov 22, 2024 by Dow Jones
      Companies Mentioned: SNY
      By Jared S. Hopkins An industry fight against lucrative drug discounts for hospitals is intensifying as another drugmaker joins the battle: Sanofi. The pharmaceutical company plans to change its policy on how it gives discounts to certain hospitals. Sanofi will require institutions to provide pharmacy and medical claims information before receiving federally mandated discounts. The company plans to send a letter, which was reviewed by The Wall Street Journal, to hospitals outlining its new model on Friday, according to people familiar with the matter. The French company's plan, which would take effect early next year, comes as the industry escalates its efforts to rein in the federal program known as 340B. Eli Lilly and Johnson & Johnson this month filed separate lawsuits against the federal government for rejecting the companies' plans to tighten the way they provide the discounts to hospitals in the program. Congress created the drug-savings program in 1992, requiring drugmakers sell outpatient drugs at a discount to hospitals and clinics that serve low-income and uninsured patients. Like Lilly and J&J, Sanofi wants to provide the required discounts via a new method. Under its plan, certain hospitals covered by 340B would order drugs at full price from a wholesaler. Only after submitting claims data -- information related to the drug's order, a patient's hospital visit and a drug's dispensing -- to Sanofi demonstrating eligibility under 340B, would the hospitals receive a credit from the company . Currently, drugmakers typically provide 340B discounts at the time of purchase. Sanofi will verify that the patient receiving the drug fits within the definition of eligibility written by the Health Resources and Services Administration, the agency that oversees 340B, according to the letter. The company's redesigned approach ensures the hospitals receive the credit before they have to pay a wholesaler for the drug, so they will never be in the red, according to the people familiar with Sanofi's plans. The HRSA is reviewing inquiries from drugmakers related to revisions on how they will provide 340B drug discounts, said an HRSA spokesman on Friday. The plans would significantly change the administration of the program, he added. The American Hospital Association is concerned about the actions by drug companies to "undermine the integrity of the 340B program," said Chad Golder, general counsel for the AHA, which represents nearly 5,000 hospitals and healthcare providers. "Sanofi's new policy is yet another instance of drug companies putting profits over people," he said. The drug-savings program has long been criticized by pharmaceutical companies, which allege it's deviated from its original intent of helping safety-net hospitals by allowing large hospital systems to buy drugs cheaply and then dispense them at a markup. Manufacturers say they sell medicines to covered hospitals at steep discounts, but some large hospitals mark up the prices charged to both uninsured patients and insurers. Hospitals say they rely on the discounts to defray costs of serving disadvantaged patients. Write to Jared S. Hopkins at jared.hopkins@wsj.com (END) Dow Jones Newswires November 22, 2024 11:34 ET (16:34 GMT)

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