The announcement, which the company said is effective immediately, comes at a time when there has been widespread criticism over the price of the drug.
Eli Lilly and Company will cut the prices of its most-prescribed insulin by 70% and cap patient monthly out-of-pocket costs at $35 or less, the company announced Wednesday.INDIANAPOLIS -- Eli Lilly and Company announced Wednesday it will expand a program that caps monthly out-of-pocket costs for patients using insulin at $35 or less and cut the price of its most prescribed insulins by as much as 70%.
“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,” David A. Ricks, Lilly’s chair and CEO, said in the statement. “The aggressive price cuts we’re announcing today should make a real difference for Americans with diabetes.”
Cutting the list price of Humalog® 100 units/mL, Lilly’s most prescribed insulin, and Humulin® injection 100 units/mL by 70%, effective in Q4 2023. “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 said.Capping out-of-pocket costs at $35, effective immediately, at participating retail pharmacies for people with commercial insurance using Lilly insulin.
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