COVID-19 Spurs Eli Lilly to Drop Insulin Costs to $35 a Month
The pharmaceutical company will cap insulin costs during the COVID-19 crisis for individuals with or without commercial insurance.
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By - Eli Lilly and Company recently launched a program allowing anyone with or without commercial insurance to fill their monthly prescription of Lilly insulin for $35, boosting patient access to insulin products during the COVID-19 pandemic.
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The Lilly Insulin Value program became effective earlier this week and covers most Lilly insulins, including all Humalog formulations.
“Too many people in the US have lost their jobs because of the COVID-19 crisis, and we want to make sure no one goes without their Lilly insulin,” Mike Mason, president of Lilly Diabetes said in the press release.
“We’ve been providing affordability solutions for a long time, but more is needed to help people during this unprecedented period. People with commercial insurance, as well as those without insurance at all, are eligible, and the process is quick and simple. We want people who need help to call us.”
READ MORE: Policymakers Call Out Express Scripts Over Rising Insulin Prices
Diabetics who qualify for a card can receive it within 24 hours by email. If patients already own a co-pay card from Lilly for a higher amount than $35, no action is necessary. Active co-pay cards have been re-set to $35 co-pay.
“It is critical that people with diabetes can reliably access insulin at a low, consistent out-of-pocket cost. Enabling a $35 per month insulin co-pay regardless of employment status will help many Americans in this difficult time,” said Aaron Kowalski and Thom Scher, CEOs of the JDRF- Beyond Type 1 Alliance.
Although seniors with Medicare Part D plans are not eligible for a co-pay card, they may be eligible for another option such as receiving donated insulin for people with lower incomes or Insulin Lispro Injection, a non-branded version of Humalog U-100 with a 50 percent lower list price, the press release stated.
A separate co-pay card for Humulin RU-500 allows for a monthly prescription fill for about $25 for people with commercial insurance and can be accessed at Humalin.com.
“The Lilly Insulin Value Program is meant to help address the needs of people in this crisis, but we also remain committed to exploring additional solutions that provide meaningful impact for those living with diabetes beyond the current crisis,” said Mason.
READ MORE: FDA Boosts Affordable Access to Insulin and Biological Products
Over the years, Lilly has launched various solutions to help individual financial circumstances of people living with diabetes such as three non-branded versions of Humalog insulin options with list prices 50 percent lower than the branded versions.
“Lilly does not currently anticipate shortages of any forms of our insulin during the COVID-19 crisis. All forms of Lilly insulin during the COVID-19 crisis are available in US pharmacies that don’t stock certain medicines can order them from wholesalers, with delivery in 1-2 days,” the company stated.
“Lilly is committed to manufacturing medicines that meet global safety, quality, value, and environmental expectations and is committed to public health and the needs of people with chronic conditions, including diabetes, who depend on our medicines around the world.”
Individuals and families are continuously struggling to keep up with rising insulin costs and are unaware why prices increase for a therapy that has remained unchanged for decades.
At the end of February, FDA published a final rule and additional resources to provide useful information to healthcare providers to ensure smooth regulatory transition of insulin products biologics.
READ MORE: Illinois Caps Out-of-Pocket Costs for Insulin at $100 for Insured
The goal is to expedite the smooth regulatory transition of insulin and potentially lead to reduced drug costs and increased market access.
“These critical therapies often carry a heavy price tag, the cost of insulin has risen over the past decade. Operating these products to increased competition is expected to bring down prices and help patients have access to more choices for these life-saving drugs,” FDA Commissioner Stephen Hahn, MD, said in the announcement.
This final rule comes two years after FDA established a framework for a new pathway for manufacturers to bring biosimilar and interchangeable versions of insulin to the marketplace in its Biosimilar Action Plan (BAP).
“The FDA continues to work diligently to ensure there is a seamless transition between regulatory pathways and that there are minimal impacts on manufacturers and patients,” Hahn said.
This final rule comes two years after FDA established a framework for a new pathway for manufacturers to bring biosimilar and interchangeable versions of insulin to the marketplace in its Biosimilar Action Plan (BAP).
“The FDA continues to work diligently to ensure there is a seamless transition between regulatory pathways and that there are minimal impacts on manufacturers and patients,” Hahn said.
