Truth matters. Community matters. Your support makes both possible. LAist is one of the few places where news remains independent and free from political and corporate influence. Stand up for truth and for LAist. Make your year-end tax-deductible gift now.
Drugmaker Eli Lilly Announces 70% Price Drop In Its 'Most Commonly Prescribed Insulins'
Humalog is among the types of insulin that drug maker Eli Lilly said will be reduced in price.
(
Niklas Halle'n
/
AFP via Getty Images
)
Topline:
Big news this morning for anyone who relies on insulin: Drug manufacturer Eli Lilly announced that it's cutting the price by 70% on its "most commonly prescribed insulins."
Some details: The company's also expanding its Insulin Value Program, which caps patient out-of-pocket costs at $35 or less per month.
Why now: The announcement comes after waves of criticism saying the drug, vital to many people with diabetes, should be more accessible. The price of insulin has increased 600% over the last 20 years and prompted California lawmakers to commit to producing the state's own brand of generic insulin to sell at below-market prices.
Why it matters: According to the American Diabetes Association, 8 million people in the U.S. with diabetes rely on insulin — about 4 million of those in California. Eli Lilly dominates the insulin market, along with two other competitors. Patients often struggle to pay the high costs of the life-saving drug, even when they're insured.
Go deeper:
You come to LAist because you want independent reporting and trustworthy local information. Our newsroom doesn’t answer to shareholders looking to turn a profit. Instead, we answer to you and our connected community. We are free to tell the full truth, to hold power to account without fear or favor, and to follow facts wherever they lead. Our only loyalty is to our audiences and our mission: to inform, engage, and strengthen our community.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive before year-end will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Right now, LAist has lost $1.7M in annual funding due to Congress clawing back money already approved. The support we receive before year-end will determine how fully our newsroom can continue informing, serving, and strengthening Southern California.
If this story helped you today, please become a monthly member today to help sustain this mission. It just takes 1 minute to donate below.
Your tax-deductible donation keeps LAist independent and accessible to everyone.
Senior Vice President News, Editor in Chief
