After mounting pressure from government and advocacy groups, pharmaceutical giant Eli Lilly has announced a 70% reduction in the costs of its most commonly prescribed insulin products. They also announced a cap on out-of-pocket patient costs for insulin at $35.
- Effective immediately, out-of-pocket insulin costs will cap at $35 at participating retail pharmacies for people with commercial insurance using Lilly insulin
- Effective May 1, 2023, the price of non-branded insulin Lispro Injection 100 units/mL will drop to $25 a vial
- Effective in Q4 2023, Humalog® (insulin lispro injection) 100 units/mL and Humulin® (insulin human) injection 100 units/mL prices will be reduced 70%
- Effective April 1, 2023, the RezvoglarTM (insulin glargine-aglr) injection, a basal insulin that is biosimilar to, and interchangeable with, Lantus® (insulin glargine) injection will be priced at $92 per five pack of KwikPens®, a 78% discount to Lantus
“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,” said David A. Ricks, Lilly’s Chair and CEO. “The price cuts 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.”
Experts expect that this drop in price will encourage other insulin makers across the US to lower their prices as well.
