Eli Lilly said it will cut the list price for its most commonly prescribed insulin, Humalog, and for another insulin, Humulin, by 70% in the fourth quarter, which starts in September. The drugmaker didn’t detail what the new prices would be.
Lilly said it will cut the list price for its most commonly prescribed insulin, Humalog, and for another insulin, Humulin, by 70% in the fourth quarter, which starts in September. The drugmaker didn’t detail what the new prices would be.
Lilly’s planned cuts “could actually provide some substantial rice relief,” said Stacie Dusetzina, a health policy professor at Vanderbilt University who studies drug costs. American Diabetes Association CEO Chuck Henderson said in a statement he applauded the steps Lilly was taking and called for other insulin makers to also cap patient costs.
People with Type 1 diabetes must take insulin every day to survive. More than 8 million Americans use insulin, according to the American Diabetes Association. Research has shown that prices for insulin have more than tripled in the last two decades, and pressure is growing on drugmakers to slow the increases.
“Lilly is trying to get out ahead of the issue and look to the public like the good guy,” Levitt said.
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