Eli Lilly plans to cut insulin prices by 70% and cap monthly costs at $35 amid criticism for its prices.
About 3 in 10 diabetics in the U.S. rely on insulin from Eli Lilly, one of three drug companies, along with Novo Nordisk and Sanofi, that control the market for the drug. Since introducing their analog insulin products more than two decades ago, the three drugmakers have sharply raised prices for the medications, which control blood sugar more effectively than so-called human insulin.
Eli Lilly on Wednesday said it will cut the list price of its Humalog 100 units/mL1, its most commonly prescribed insulin, by 70%. The price cut will take effect during the fourth quarter of 2023, the company said in a statement. The list price of Humulin U-100 10 mL vials will drop from $148.70 to $44.61, it added.
The drugmaker said it will also cut the list price of its non-branded insulin, called Insulin Lispro Injection 100 units/mL, to $25 a vial, which will go into effect on May 1. That amounts to a lower price than a vial of Humalog in 1999, the company noted. "While the current health care 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 CEO David A. Ricks in a statement.Eli Lilly also said it will cap out-of-pocket costs at $35 at participating retail pharmacies for people with insurance who are prescribed the company's insulin.
The price cuts come after the Biden administration's Inflation Reduction Act capped the price of insulin at $35 a month for enrollees in Medicare, the health insurance plan for people who are 65 or older.
Norge Siste Nytt, Norge Overskrifter
Similar News:Du kan også lese nyheter som ligner på denne som vi har samlet inn fra andre nyhetskilder.
Eli Lilly caps the cost of insulin at $35 a monthThe move puts the drugmaker in line with a popular provision in the Inflation Reduction Act that capped the medication’s cost for seniors on Medicare.
Les mer »
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
Les mer »
Lilly to cut insulin prices by 70%, cap prices at $35 per month for people with private insurance
Les mer »
Lilly to cut price of insulin for people with commercial health insuranceEli Lilly & Co. said Wednesday that is capping out-of-pocket insulin costs to $35 for people with commercial health insurance at certain retail pharmacies...
Les mer »
Eli Lilly to slash insulin prices, expand cost capEli Lilly has announced plans to cut the price for insulin products later this year and immediately expand a spending cap for insured patients.
Les mer »