NEW: Eli Lilly is slashing the prices of its most-prescribed insulins amid pressure from consumers and the Biden administration. People with diabetes would see 70% reductions on its most common versions between now and the end of the year.
"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," said Lilly CEO David Ricks said in a
. "The aggressive price cuts we're announcing today should make a real difference for Americans with diabetes."Lilly's move comes amid a push by President Biden and some in Congress to cap out-of-pocket insulin costs for commercially insured patients. The Inflation Reduction Act limited monthly out-of-pocket insulin costs to $35 for Medicare beneficiaries starting this year butLilly also has been striking deals to boost affordable insulin in developing nations, most recently Bangladesh, per
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Eli Lilly to cut insulin prices by 70%, cap monthly costs at $35The price reductions for the life-saving medication come amid criticism that unaffordable insulin may constitute a human rights abuse.
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Eli Lilly to cut insulin prices by 70 percentPharmaceutical giant Eli Lilly is slashing prices of commonly prescribed insulin drugs by 70 percent while capping related out-of-pocket costs at $35 a month, a move that should help address long-standing concerns about the high cost of diabetes care.
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Lilly to cut insulin prices by 70% from fourth quarterBREAKING: U.S. drugmaker Eli Lilly said it would reduce prices by 70% for its most commonly prescribed forms of insulin
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Eli Lilly caps the cost of insulin at $35 a monthThe move puts the drugmaker in line with a popular provision in the Inflation Reduction Act that capped the medication’s cost for seniors on Medicare.
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Eli Lilly to slash insulin prices, expand cost capEli Lilly has announced plans to cut the price for insulin products later this year and immediately expand a spending cap for insured patients.
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