On Friday, President Biden announced proposed rules to limit short-term insurance plans, prevent surprise medical bills and reduce medical debt tied to credit cards.

Just days after the other two drugmakers dropped their prices, Sanofi is capping the cost of its most prescribed insulin at $35 for the privately insured, as a price gouging lawsuit against all three drugmakers gets underway.

Under mounting pressure, Novo Nordisk plans to cut list prices for insulin products by up to 75%, now the latest drugmaker to take such a step following a California lawsuit accusing drugmakers of driving up costs.

The agency is cracking down because audits have shown that private insurance companies have charged billions of dollars in overpayments to Medicare Advantage plans and increased costs to the Medicare program.