Eli Lilly Drops Price of Insulin to $35 a Month
Drug maker Eli Lilly has announced it will cap out-of-pocket insulin costs to $35 a month—a 70% price decrease.
"While the current healthcare system provides access to insulin for most people with diabetes, it still does not provide affordable insulin for everyone and that needs to change," stated David A. Ricks, Eli Lilly's Chair and CEO. "The aggressive price cuts we're announcing today should make a real difference for Americans with diabetes. Because these price cuts will take time for the insurance and pharmacy system to implement, we are taking the additional step to immediately cap out-of-pocket costs for patients who use Lilly insulin and are not covered by the recent Medicare Part D cap."
According to a press release from the company, the following insulin drugs will be effected:
Cutting the list price of its non-branded insulin, Insulin Lispro Injection 100 units/mL, to $25 a vial. Effective May 1, 2023, it will be the lowest list-priced mealtime insulin available, and less than the price of a Humalog® vial in 1999.
Cutting the list price of Humalog® (insulin lispro injection) 100 units/mL1, Lilly's most commonly prescribed insulin, and Humulin® (insulin human) injection 100 units/mL2 by 70%, effective in Q4 2023.
Launching RezvoglarTM (insulin glargine-aglr) injection, a basal insulin that is biosimilar to, and interchangeable with, Lantus® (insulin glargine) injection, for $92 per five pack of KwikPens®, a 78% discount to Lantus, effective April 1, 2023.
Uninsured individuals can go onto insulinaffordability.com and download a savings card which will also honor the $35 a month price.
The company also challenges others to do the same with regard to insulin pricing. “We are calling on policymakers, employers and others to join us in making insulin more affordable," said Ricks.
This news comes after months of President Biden pressing for legislature reflecting a universal price cap on insulin, and nearly a decade of advocates doing the same.
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