Insulin, which can retail for hundreds and hundreds of dollars out-of-pocket, just got much more affordable.
Wednesday, via virtual press conference, David Ricks, Eli Lilly’s chair and CEO, announced the pharmaceutical giant is cutting insulin prices by 70 percent, and, effective immediately, capping out-of-pocket prices for patients at $35. This announcement is huge, considering how affordability can be a major barrier to care for many living with the disease, especially in Black and brown communities.
“With today’s announcement, we’re recommitting to our 100-year-old idea of creating safe, reliable, and available insulins by announcing some aggressive actions to help some people, more people with diabetes, gain access to affordable Lilly insulins,” Ricks said.
Those “aggressive” actions include reducing prices by cutting the list price of its non-branded insulin, Insulin Lispro Injection, to $25 a vial; cutting the list price of the very popular Humalog insulin lispro injection and Humulin injection by 70 percent; and launching the Rezvoglar injection for $92 per five pack of KwikPens, a 78 percent discount.
In addition to capping out-of-pocket prices to $35, Ricks said Eli Lilly is increasing access for those who do not have insurance. The uninsured can go to InsulinAffordability.com and download the “Lilly Insulin Value Program” savings card to receive Lilly insulins for $35 per month.
In the coming weeks, Lilly will launch a nationwide awareness campaign to ensure everyone eligible to benefit from these solutions knows how to access them at the pharmacy or online. The CEO said Lilly is slashing the prices to combat the current gaps in the U.S. healthcare system.
“While the current system largely ensures affordable access to insulin for most people with diabetes, a result of notable progress by the industry and by government, the system still does leave a few…
Read the full article here
