Health Care

Lilly introduces cheaper generic insulin in the US

Lilly introduces cheaper generic insulin in the US”

The company said it will work to make the new, cheaper insulin available as soon as possible.

The new drug called Insulin Lispro will retail for $137.35 for a single vial or $265.20 for a five-park of KwikPens.

We've engaged in discussions about the price of insulin with many different stakeholders in America's health care system: people living with diabetes, caregivers, advocacy groups, health care professionals, payers, wholesalers, lawmakers, and leading health care scholars.

Despite being off-patent for many years, Humalog and other insulin brands continue to make high sales, with Lilly booking around $3 billion from its product last year, $1.8 billion of which was generated in the US. Morgan Stanley set a $116.00 price objective on shares of Eli Lilly And Co and gave the stock a "hold" rating in a report on Thursday, December 20th.

Lilly subsidiary ImClone Systems will produce Insulin Lispro.

Eli Lilly has responded to criticism of high prices for insulin products in the U.S. by launching a cut-price version of its Humalog brand.

Lilly has in the past called insulin a highly-rebated product.

Along with other insulin producers Sanofi and Novo Nordisk, Lilly has been in the spotlight over insulin pricing and has attracted the attention of lawmakers in the U.S. who want the products to become more affordable.

Last month, seven executives of top pharmaceutical companies were questioned about skyrocketing drug prices and letters were sent to leading manufacturers Eli Lilly, Novo Nordisk and Sanofi about their recent insulin price hikes.

"Clearly, the insulin cartel is feeling pressure after years of price gouging a lifesaving drug".

The cost of insulin can vary dramatically depending on a person's insurance coverage.

Yet many patients say the rising price of the drug is putting it out of reach, forcing them to dangerously curtail their doses.

In 2012, Marston lost her job and found herself paying the full list price for Humalog, a life-saving medication used by people with diabetes to help process sugar found in the blood.

About Lilly DiabetesLilly has been a global leader in diabetes care since 1923, when we introduced the world's first commercial insulin.

Eli Lilly and Company discovers, develops, manufactures, and markets pharmaceutical products worldwide. We were founded more than a century ago by a man committed to creating high-quality medicines that meet real needs, and today we remain true to that mission in all our work.

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