INDIANAPOLIS — You may struggle to afford insulin and cover out-of-pocket costs. Eli Lilly has a plan to address those issues.
Eli Lilly announced Wednesday a plan to cut the prices of its most commonly prescribed insulins by 70-percent, as well as cap out-of-pocket costs at 35-dollars or less per month as part of an expansion of the Insulin Value Program.
According to a press release, Lilly is able to make the price cuts by:
-Cutting the list price of its non-branded insulin, Insulin Lispro Injection 100 units/mL, to $25 a vial. Effective May 1, 2023, it will be the lowest list-priced mealtime insulin available, and less than the price of a Humalog® vial in 1999.
-Cutting the list price of Humalog® (insulin lispro injection) 100 units/mL1, Lilly’s most commonly prescribed insulin, and Humulin® (insulin human) injection 100 units/mL2 by 70%, effective in Q4 2023.
-Launching RezvoglarTM (insulin glargine-aglr) injection, a basal insulin that is biosimilar to, and interchangeable with, Lantus® (insulin glargine) injection, for $92 per five pack of KwikPens®, a 78% discount to Lantus, effective April 1, 2023.
The press release also detailed how the company is making it easier to get Lilly insulins:
-Effective immediately, Lilly will automatically cap out-of-pocket costs at $35 at participating retail pharmacies for people with commercial insurance using Lilly insulin.3
-People who don’t have insurance can continue to go to InsulinAffordability.com and immediately download the Lilly Insulin Value Program savings card to receive Lilly insulins for $35 per month.
A statement from Eli Lilly’s Chair and CEO, David Ricks:
“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. The aggressive price cuts we’re announcing today 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.”
Ricks also wants policymakers and employers to join in on the effort to make insulin more affordable:
“We are driving for change in repricing older insulins, but we know that 7 out of 10 Americans don’t use Lilly insulin. We are calling on policymakers, employers and others to join us in making insulin more affordable. For the past century, Lilly has focused on inventing new and improved insulins and other medicines that address the impact of diabetes and improve patient outcomes. Our work to discover new and better treatments is far from over. We won’t stop until all people with diabetes are in control of their disease and can get the insulin they need.”
Lilly will launch a public awareness campaign in the coming weeks to make it easier to understand how to take advantage of the new insulin price policies.
