Millions of people in the US use insulin every day
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Pharmaceutical maker Eli Lilly and Company has announced it will cut the cost of its most prescribed insulin by 70% starting in May. Reduction applies in the United States. The company also immediately caps the cost people pay for insulin to $35 a month, thereby increasing access to the drug and saving some people thousands of dollars each month.
More than 7 million people in the United States use insulin. Insulin is a life-saving drug for many diabetics. An estimated 1.3 million people in the United States distribute drugs for their expenses. The manufacturer charges an average of almost $100 for a standard vial of insulin in the US compared to $12 in Canada or his $7.52 in the UK. The fee paid depends on the presence or absence of personal health insurance, with some paying little and others paying all.
The proposed price cuts will only apply to certain insulin products, which are mostly older products, including the pharmaceutical manufacturer’s most prescribed insulin drugs. It will have the greatest impact on Americans who are not.
David A. Ricks of Eli Lilly and Company said in a press release: “We are pushing to repricing old insulin, but we know that 7 out of 10 Americans are not using Lilly insulin. of people to join us in making insulin more affordable,” he said.
Novo Nordisk and Sanofi are the only two companies that supply insulin in the United States. Charles Henderson of the American Diabetes Association said in a statement: “I commend Eli Lilly for taking important steps to limit insulin cost sharing and encourage other insulin manufacturers to take similar steps. .
Eli Lilly’s announcement may force other pharma companies to follow suit, but is unlikely to affect drug pricing more broadly, including new insulin products, said a US think tank. said Andrew Mulcahy of RAND Corporation.
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