Eli Lilly’s decision to cut the list prices on its commonly prescribed insulins by 70% on Wednesday may help one aspect of the U.S. healthcare system look less like a carpet bazaar. But that helps Eli Lilly.
offered an autoimmune disease drug earlier this year with two prices. The assumption is insurers will take the higher-priced version and pocket rebates.
American politicians have been pressuring drug companies to lower prices, and President Joe Biden welcomed the move. In theory, lower list prices mean everyone pays less out of pocket at the pharmacy. Also Lilly, Sanofi and Novo Nordisk control about 90% of the U.S. insulin market, and transparency works for everyone. If rivals play along, prices come down for the uninsured, but discounts might shrink. Small wonder why Eli Lilly’s stock was up on Wednesday.
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Eli Lilly cuts the price of insulin, capping drug at $35 per month out-of-pocketThe moves announced Wednesday promise critical relief to some people with diabetes who can face annual costs of more than $1,000 for insulin they need in order to live.
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Drug Giant Eli Lilly Dramatically Slashes Price of InsulinA hard-fought campaign to reduce the exorbitant price of insulin seems to finally be yielding some results.
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'Brilliant PR Move': Advocates Skeptical as Eli Lilly Vows 70% Insulin Price Cut'Congress, not greedy corporations trying to redeem their tarnished reputations, should be leading the way on reforms that put patients ahead of pharmaceutical profits.'
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Eli Lilly cuts the price of insulin, capping drug at $35 per month out-of-pocketThe moves announced Wednesday promise critical relief to some people with diabetes who can face annual costs of more than $1,000 for insulin they need in order to live.
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Biden praises Eli Lilly for capping insulin price at $35President Biden hailed Eli Lilly & Co. on Wednesday for capping out-of-pocket costs for insulin at $35, a move that aligns with a key priority for the administration.
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