Eli Lilly and Company to Drop Insulin Costs 40% in the US
The new list price of the company’s insulin, effective January 2022, will be $82.41 for individual vials and $159.12 for a pack of five pens.
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By - Eli Lilly and Company recently announced it will lower the list price of Insulin Lispro Injection in the US by another 40 percent.
Effective January 1, 2022, the new list price will be $82.41 for individual vials and $159.12 for a pack of five pens. This price is 70 percent less than Eli Lilly and Company’s branded Humalog U-100 counterparts.
The price will apply to all Lilly’s non-branded insulins, including Insulin Lispro Injection. Insulin Lispro Injection is a lower list-priced alternative to Humalog U-100. Overall, the price decrease will help individuals who have not activated one of the company’s prior affordability solutions.
“Lilly has introduced numerous affordability programs since 2017. Collectively, these solutions are significantly lowering the out-of-pocket costs for people using our insulins,” David A. Ricks, chairman and CEO at Eli Lilly and Company, said in the announcement.
“Today's list price cut can further help people who are exposed within our healthcare system – the underinsured and uninsured. Half list-priced Insulin Lispro Injection has been adopted by a third of Humalog U-100 consumers. We hope this additional 40 percent cut can expand affordable insulin to more people with diabetes,” Ricks continued.
Over the years, Eli Lilly and Company has launched solutions to help the financial circumstances of individuals living with diabetes, such as three non-branded versions of Humalog insulin options with list prices 50 percent lower than the branded versions.
The affordability solutions, combined with insurance coverage, have lowered the average monthly out-of-pocket cost for a prescription of the company’s insulin to $28.05. This number is a 27 percent decrease over the past four years.
Last April, Eli Lilly and Company 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.
The Lilly Insulin Value program covers most Lilly insulins, including all Humalog formulations.
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.
Eli Lilly and Company stated that it will keep its affordability programs in place for individuals using insulin, including the $35 co-pay card and the Senior Savings Model for people in participating Medicare Part D plans.
