{"id":33106,"date":"2023-03-03T01:59:00","date_gmt":"2023-03-03T01:59:00","guid":{"rendered":"https:\/\/www.lifeandnews.com\/articles\/?p=33106"},"modified":"2023-03-10T17:25:33","modified_gmt":"2023-03-10T17:25:33","slug":"eli-lilly-is-cutting-insulin-prices-and-capping-copays-at-35-5-questions-answered","status":"publish","type":"post","link":"https:\/\/www.lifeandnews.com\/articles\/eli-lilly-is-cutting-insulin-prices-and-capping-copays-at-35-5-questions-answered\/","title":{"rendered":"Eli Lilly is cutting insulin prices and capping copays at $35 \u2013 5 questions\u00a0answered"},"content":{"rendered":"\n

Dana Goldman<\/a>, University of Southern California<\/a><\/em> and Karen Van Nuys<\/a>, University of Southern California<\/a><\/em><\/p>\n\n\n\n

Pharmaceutical giant Eli Lilly is slashing the list prices for some of its most popular insulin products<\/a> by 70% and capping insulin copays at US$35<\/a> for uninsured patients and those with private health insurance. These changes follow efforts by the federal government<\/a>, the California state government<\/a>, nonprofits<\/a> and some companies<\/a> to make insulin more affordable for the more than 7 million<\/a> Americans with diabetes who require it.<\/em><\/p>\n\n\n\n

The Conversation asked Dana Goldman<\/a> and Karen Van Nuys<\/a>, two scholars who have researched insulin pricing<\/a>, to explain why Eli Lilly is dramatically cutting the cost of some of its insulin products and to sum up how it may improve access to this essential medical treatment.<\/em><\/p>\n\n\n\n

1. Why is Lilly reducing prices now?<\/h2>\n\n\n\n

High insulin prices have not earned any U.S. manufacturer many friends, with list prices increasing 54% from 2014 to 2019<\/a>.<\/p>\n\n\n\n

Most troublingly, an estimated 1.3 million<\/a> uninsured people with diabetes and patients with inadequate insurance have resorted to rationing<\/a> their insulin. Skipping doses because of high insulin prices has sometimes had tragic and even deadly consequences<\/a>.<\/p>\n\n\n\n

But growing competition has shaken up the insulin market in recent years.<\/p>\n\n\n\n

For example, Walmart introduced its own private-brand insulin<\/a> in 2021. Mylan, a large generic drugmaker, developed a version of long-acting insulin called Semglee, priced 65% lower than its branded competitor. But few consumers use those products.<\/p>\n\n\n\n

Efforts to produce cheaper insulin by the nonprofit drugmaker CivicaRx<\/a> and the state of California<\/a> are several years out and won\u2019t provide immediate relief.<\/p>\n\n\n\n

Then there\u2019s the Inflation Reduction Act<\/a>, a big spending package Congress approved in 2022. It capped insulin out-of-pocket costs at $35 for Americans with Medicare<\/a>, a government health insurance program that covers people over 65.<\/p>\n\n\n\n

And, in fact, Lilly itself has been trying to disrupt insulin prices. In 2019, the drugmaker introduced insulin lispro<\/a>, a lower-cost version of its blockbuster insulin, Humalog.<\/p>\n\n\n\n

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