(Paris) -- Another major drug company is cutting the price of insulin.
Sanofi announced Thursday that it was slashing the price of its most popular insulin, Lantus, by 78 percent.
The French drugmaker said the price cut will be effective starting January 1st of next year.
Earlier this week, Eli Lilly and Novo Nordisk announced plans to slash their insulin prices by at least 70 percent. Insulin prices by the three major drug companies have risen dramatically over the past 20 years, to nearly 300 dollars per vial.
The price cuts will bring the cost down to about 70 dollars per vial or less.