March 6, 2023
Media contact: National Consumers League – Katie Brown, email@example.com, 202-823-8442
Washington, D.C. – The National Consumers League commends the decision by drug company Eli Lilly to cut prices for insulin and cap costs insured patients pay to fill prescriptions.
“We applaud the Eli Lilly company for taking steps to cap prices for insulin. This action will provide much needed relief to patients suffering from diabetes who are currently facing steep annual costs for insulin, medicine that is life saving for those coping with their illness,” said NCL CEO Sally Greenberg.
The company said it will cut the list price for its most commonly prescribed insulin, Humalog, and for another insulin, Humulin, by 70% starting in October..
Lilly also said Wednesday that it will cut the price of its authorized generic version of Humalog to $25 a vial starting in May.
Lilly also is launching in April a biosimilar insulin to compete with Sanofi’s Lantus. NCL strongly supports the use of biosimilars as they introduce much needed competition and lower prices into the drug marketplace.
Lilly said people without insurance can find savings cards to receive insulin for the same amount at its InsulinAffordability.com website.
The federal government in January started applying that cap to patients with coverage through its Medicare program for people age 65 and older or those who have certain disabilities or illnesses.
About the National Consumers League (NCL)
The National Consumers League, founded in 1899, is America’s pioneer consumer organization. Our mission is to protect and promote social and economic justice for consumers and workers in the United States and abroad. For more information, visit nclnet.org.