Eli Lilly Announces 70% Price Cut for Most Commonly Used Forms of Insulin, Capping Out-of-Pocket Costs at $35 a Month

Eli Lilly announced Wednesday a series of price cuts that would lower the cost of its most commonly used forms of insulin by 70%. The company will also cap out-of-pocket costs at $35 a month for those with commercial insurance who use participating pharmacies.

The list price of Eli Lilly’s nonbranded insulin will be reduced to $25 a vial as of May 1, making it the lowest list-priced mealtime insulin available. The company will also lower the list price of Humulin and its most commonly prescribed insulin, Humalog, in the fourth quarter of 2023.

The price cuts come as Eli Lilly and other insulin manufacturers face ongoing criticism for their prices, which have pushed more people with diabetes to ration insulin or reduce their use of the medication. Insulin rationing can lead to illness and death, while some groups contend that unaffordable insulin may constitute a human rights abuse.

Eli Lilly is also expanding its Insulin Value Program, which caps out-of-pocket costs at $35 or less per month for people who are uninsured. The company hopes that the price cuts and expanded program will help make insulin more accessible and affordable for those who need it.