Eli Lilly announced Wednesday that it will immediately cap out-of-pocket costs for insulin at $35. It is a welcome relief to millions of Americans who depend on insulin to survive.
Effective May 1, the price of non-branded insulin, Insulin Lispro Injection 100 units/mL, will also drop to $25 a vial, which is the "lowest list-priced mealtime insulin available," the company said.
The drugmaker is also cutting the price of its most commonly prescribed insulin, Humalog, as well as Humulim by 70% in the fourth quarter of 2023. According to HHS, list prices for insulin has increased over time and nearly doubled between 2012 and 2016 before stabilizing in recent years. However, in a January 2021 report, global policy think tank RAND Corporation estimated that the average list price for aThese high prices can make it harder for patients to follow prescribed insulin regimens, "which can, in turn, lead to complications including ketoacidosis, kidney disease, vision loss, and others," according to HHS.
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