Eli Lilly & Company announced cost reductions of up to 70% of its most commonly prescribed insulins today, saying it is committed to making sure its life-saving drugs are “safe, reliable and affordable” to people who rely on them.
“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,” Lilly chairman and CEO David Ricks said in a virtual news conference March 1.
“The aggressive price cuts we’re announcing today should make a real difference for Americans with diabetes,” he said.
Ricks said seven in 10 insulin users in the U.S. don’t use Lilly insulin, and he called on other drug makers in the U.S. to follow its example and lower out-of-pocket costs for patients.
Lilly said it is expanding its Insulin Value Program that caps patient out-of-pocket costs at $35 or less per month. “That’s what we can do in helping our patients,” Ricks said, adding that the company supports efforts in Congress to expand and reduce insulin costs to all patients.
The company is taking these actions to make it easier to access Lilly insulin and help Americans who may have difficulty navigating a complex healthcare system that may keep them from getting affordable insulin, Lilly executives said.
“It’s an expense we are going to cover,” Ricks said at the news conference.
Effective immediately, Lilly will automatically cap out-of-pocket costs at $35 at participating retail pharmacies for people with commercial insurance using Lilly insulin. Additionally, 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.
The company also announced it is:
- 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.
“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,” Ricks said.