Lilly Cuts Insulin Price by 70%, Caps Out-of-Pocket Cost
Eli Lilly will cut prices for most of its insulins in the US by 70% and cap out-of-pocket costs for insulin at $35 per month, the company announced on March 1.
“Lilly is taking these actions to make it easier to access Lilly insulin and help Americans who may have difficulty navigating a complex healthcare system that may keep them from getting affordable insulin,” the company said in a statement.
The $35 price cap is effective immediately at participating retail pharmacies for people with commercial insurance. Those without insurance can go to InsulinAffordability.com and download the Lilly Insulin Value Program savings card to receive Lilly insulins for $35 per month.
The company says it will cut the list price of its nonbranded Insulin Lispro Injection 100 units/mL to $25 a vial, effective May 1, 2023. The list price of the branded Humalog (insulin lispro injection) 100 units/mL will be cut by 70%, effective in the fourth quarter of 2023.
Lilly is among the three main companies that manufacture insulin, along with Novo Nordisk and Sanofi, that have come under fire over the cost of insulin in the US. Studies have shown that up to 25% of people with type 1 diabetes ration insulin because of costs, putting their health and often their lives in jeopardy.
Prices in the US are around 10 times higher than in other countries. California is the latest state to say it plans to sue these big three companies over the high price of insulin and has announced plans to make its own cheaper versions.
On hearing the Lilly announcement, type 1 diabetes advocate @tyberinger tweeted: “Let’s get ahead of this now. Eli Lilly did not do this because they care about us. They saw the writing on the walls and capped the price themselves before somebody else could do it to them. This is happening because of us and the pressure we put together on them. #insulin4all.”
#insulin4all is a worldwide campaign to ensure that people with type 1 diabetes have access to affordable insulin and other supplies needed to manage the condition, such as glucose strips. It is supported, among others, by the advocacy group T1International.
Some patients with type 2 diabetes are dependent on insulin.
“If the millions of Americans that are insulin dependent speak up, insulin manufacturers and government representatives will take action to ensure insulin is affordable and accessible for all,” says T1International on its US website.
ADA Applauds Lilly but Says Work on Insulin Pricing Remains
Giving his reaction today to the Lilly announcement, Chuck Henderson, CEO of the American Diabetes Association (ADA), said: “We applaud Eli Lilly for taking the important step to limit cost-sharing for its insulin, and we encourage other insulin manufacturers to do the same.
“While we have been able to help achieve significant progress on the issue of insulin affordability, including Medicare’s new out-of-pocket cost cap on insulin, state copay caps, and patient assistance developments from insulin manufacturers, we know that our work is not done,” he added.
“ADA will work to ensure that Eli Lilly’s patient assistance program is benefiting patients as intended and continue the fight so that everyone who needs insulin has access.”
Lilly will launch a new insulin biosimilar, Rezvoglar (insulin glargine-aglr) injection, which is similar to and interchangeable with insulin glargine (Lantus). The cost will by $92 for a five pack of KwikPens, a 78% discount compared to the cost of Lantus, beginning April 1, 2023.
More information is available on Lilly.com/insulin.
Miriam E. Tucker is a freelance journalist based in the Washington DC area. She is a regular contributor to Medscape, with other work appearing in the Washington Post, NPR’s Shots blog, and Diabetes Forecast magazine. She is on Twitter @MiriamETucker.
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