Eli Lilly has settled a case with patients using insulin, who accused the company and others of artificially inflating prices of the lifesaving drug. Lilly will pay out a total of $13.5 million and will maintain their $35 a month out-of-pocket price cap for four years at minimum. The company, which claims no wrongdoing occurred, will apply this cap to three insulin products, Humalog, Humulin, and Basaglar.
According to Nicole Defeudis, “Plaintiffs estimate the value of that future relief to be more than $500 million, according to court documents, calling it a “substantial concession in an era where drug prices are skyrocketing and inflation generally is a significant concern.””
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(Source: Endpoints News, May 30th, 2023)