Eli Lilly and Company [NYSE: LLY] disclosed that it has decided to reduce the list price of Insulin Lispro Injection in the U.S. once again by an additional 40%. The decision will come into action on January 1, 2022, efficiently cutting the list price down to 2008 levels. The firm revealed that the new list price will be applicable to all Lilly’s non-branded insulins, including Insulin Lispro Injection.
The firm has set the new list price for Insulin Lispro Injection of $82.41 for individual vials and $159.12 for a pack of five pens which is 70% lower than Lilly’s branded Humalog U-100 counterparts and can aid people who have not activated one of Lilly’s affordability solutions. Lilly has launched various affordability programs since 2017. Jointly, these solutions are substantially decreasing the out-of-pocket costs for people using its insulins.
Advantages of Lower List Price of Insulin Lispro Injection
The main advantage of this price reduction decision is that the people using any Lilly insulin including Insulin Lispro Injection can satisfy their monthly prescription for $35 through the Lilly Insulin Value Program for people with commercial insurance or who are uninsured, and the Senior Savings Model for seniors in active Medicare Part D plans.
Furthermore, various affordability solutions of Lilly, integrated with insurance coverage, have cut the average monthly out-of-pocket cost for a prescription of Lilly insulin irrespective of the number of vials or pens to $28.05, a 27% decrease over the past four years. Moreover, nearly 1 in 3 prescriptions for Lilly’s U-100 mealtime insulin is for Insulin Lispro Injection.