Written and medically reviewed by Dorcas Morak, PharmD
Insulin is an essential and life-saving medicine for millions of Americans living with Type 1 and some with Type 2 diabetes. Unfortunately, the high cost of insulin has made it challenging for many patients to afford it, leading to rationing or even skipping doses that can result in serious complications.
Lawmakers and patient advocates have been pressuring drug companies and health insurers to reduce insulin list prices to make it more affordable for patients. The push for affordability resulted in the Inflation Reduction Act, which passed at the federal level. This act now limits the monthly cost of insulin to $35 for those on the Part D Medicare plan.
Eli Lilly has taken significant steps to help reduce the financial burden of insulin for patients with diabetes. Here are five ways Eli Lilly plans to make insulin more affordable:
1. Reduce the list price of Humalog and Humulin insulin by 70% Eli Lilly has announced that it will slash the list price of its Humalog and Humulin insulin by up to 70%, making them more accessible and affordable for patients. The new price will take effect between October 1 and December 31, with a 10ml vial of Humalog U-100 costing $66.40 and Humulin U-100, 10ml vial costing $44.61 instead of the current prices of $274.70 and $148.70, respectively.
2. Sell its unbranded insulin at $25 Starting May 1, Lilly's unbranded insulin will be available at only $25 per vial, a move aimed at making it more accessible and affordable for patients who cannot afford branded insulin.
3. Launch a less expensive biosimilar version of Sanofi's Lantus Eli Lilly has also launched a biosimilar version of Sanofi's Lantus called Rezvoglar, which costs only $92 per five-pack. At this price, it will be 78% cheaper than Lantus, and pharmacists can interchange it with Lantus without requiring a new prescription.
4. Cap insulin at $35 a month for privately insured patients Eli Lilly has extended the benefit of the Inflation Reduction Act, which caps out-of-pocket insulin spending at $35 a month for Medicare patients, to privately insured patients. While 85% of national and local pharmacies will honor the $35 price cap, it is best to call your local pharmacy to check if they are part of the program.
5. Offer a program savings card for the uninsured Eli Lilly offers a program saving card to cap insulin prices at $35 a month for people without insurance.
