CORRECTION: Eli Lilly will cut the price of its most commonly prescribed insulin products by 70% and expand a program that caps patient costs at $35 per month, the company says.
Speaking in Virginia on Tuesday, Biden reiterated his call for the lowering the price.
"Look at the profit margins of these companies -- they’re hundreds of billions of dollars," Biden said. "It's not like they're getting hurt."MORE: FDA approves 1st drug to delay onset of Type 1 diabetes All patients with private insurance will receive a $35 per month price cap on insulin, Eli Lilly said on Wednesday. People without insurance can enroll in a program through the company that will allow them to receive the monthly price cap, the company added.
The price of Humalog, Eli Lilly's most frequently prescribed insulin drug, will drop 70% beginning at the end of this year, the company said. The discount affects a slew of Humalog products, including Humalog U-100, Humalog Mix 50/50 and Humalog Mix 75/25.In 2018, the average price of insulin in the U.S. was 10 times higher than the average price in other wealthy countries, according to aRoughly 8.
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Eli Lilly cuts insulin prices up to 70% amid pressure to slash costsEli Lilly will cut the price of its most commonly prescribed insulin products by 70% and expand a program that caps patient costs at $35 per month, the company said on Wednesday. MORE ⬇️
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Lilly to cut insulin prices by 70% from fourth quarterBREAKING: U.S. drugmaker Eli Lilly said it would reduce prices by 70% for its most commonly prescribed forms of insulin
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