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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.
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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.
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But the game has changed: Congress voted to eliminate funding for public media across the country. Here at LAist that means a loss of $1.7 million in our budget every year. We want to assure you that despite growing threats to free press and free speech, LAist will remain a voice you know and trust. Speaking frankly, the amount of reader support we receive will help determine how strong of a newsroom we are going forward to cover the important news in our community.
We’re asking you to stand up for independent reporting that will not be silenced. With more individuals like you supporting this public service, we can continue to provide essential coverage for Southern Californians that you can’t find anywhere else. Become a monthly member today to help sustain this mission.
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