Patients with diabetes who buy Eli Lilly-branded insulin have reason to celebrate. Though the Inflation Reduction Act capped out-of-pocket insulin costs for Medicare-enrolled seniors at $35, Eli Lilly & Co. has expanded the cap to all diabetes patients, regardless of age.
The drugmaker's move is aimed at making all of its insulin products easier to get by:
- Cutting the price of two big-selling insulin products — Humalog and Humulin — by 70%, effective in the October-December quarter.
- Automatically capping out-of-pocket costs at $35 at participating retail pharmacies for patients with insurance using Lilly insulin.
- Continuing to encourage consumers without insurance to sign up for its copay assistance program at InsulinAffordability.com to purchase Lilly insulins for $35 a month.
@ragebolusbabe The name of the game is profit over people especially when it comes to the cost of insulin in America #sotu #insulin4all #diabetes ♬ original sound - Tini | T1D
The copay program began providing insulin to patients for $35 a month regardless of insurance status in 2020 at the outset of the coronavirus pandemic. The average price of insulin before the coronavirus pandemic was about $100 for a month's supply.
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The American Diabetes Association and President Joe Biden praised the drugmaker's decision and encouraged other companies to lower prices. And experts say Lilly's decision could impetus for other U.S. insulin manufacturers to do just that.
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