Eli Lilly will cut the price of insulin by 70%
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Today, March 1, an American pharmaceutical company Eli Lilly announced that it was cutting the price of its most common types of insulin by 70%. Thus, the company’s cheapest insulin will be sold at $25 against the previous $82.
In addition, Eli Lilly has expanded the program to limit monthly insulin costs for certain categories of patients to less than $35. Previously, the program was available only to people without insurance, but now it can be used by people with insurance.
Last year, the US Congress considered introducing a cap on insulin at $35 per month for insurance, but due to opposition from the Republican Party, the corresponding law was not passed. According to experts, insulin in the US is more expensive than in many other countries, and according to the research company GoodRx, between 2014 and 2019, prices for it increased by 54%. The US Centers for Disease Control and Prevention estimates that 16.5% of Americans with diabetes who require insulin limit their use due to the cost of the drug.
US President Joe Biden commented on the price cut. “Today, Eli Lilly is heeding my call. Others should follow her,” he wrote on Twitter.
Eli Lilly is one of the largest manufacturers of insulin in the US, accounting for about 30% of this market. The company was the first to patent a method for mass-producing insulin in the US in the early 1920s.
In the material “b” “Step by step – away from diabetes” read how physical activity reduces the likelihood of this disease.
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