Eli Lilly Cuts US Insulin Price and Caps Out-of-Pocket Monthly Cost

Amid growing discontent with insulin prices in the US, Eli Lilly is lowering the price of its insulin products. Its brand name Humalog and Humulin will see a 70% price drop, while the company’s generic Lispro will be set at $25 a vial. In addition, the company will cap the price of insulin at $35 a month for patients on commercial plans, mirroring the provision found in the Inflation Reduction Act for Medicare beneficiaries.

According to Emily Kimber, “Lilly, which became the first company to commercialise human insulin 100 years ago, has come under fire in recent years over the pricing of its products. In January, California attorney general Rob Bonta filed a lawsuit against the company and other insulin manufacturers for allegedly using their market power to overcharge patients for the life-saving drug. The lawsuit stated that, because Lilly, Novo Nordisk and Sanofi produce over 90% of the global insulin supply, they are able to keep ‘aggressively hiking’ the list price of insulin at the expense of patients. Other states including Minnesota, Mississippi, Arkansas and Kansas, as well as groups of drug purchasers, have previously brought legal action over insulin pricing..”

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(Source: PM Live, March 1^st, 2023)