Health and Healthcare
How Eli Lilly Is Making Insulin More Affordable
Published:
Last Updated:
Drug companies have been decried in the United States for high prices, but Eli Lilly and Co. (NYSE: LLY) is looking to fight this trend — at least a little. The pharmaceutical giant has announced that its Insulin Lispro Injection is now available for order in pharmacies for people who use Eli Lilly’s rapid-acting insulin and need a lower-cost option.
Now, Eli Lilly’s Insulin Lispro Injection has a 50% lower list price than identical medicine Humalog U-100 and is available in both a vial and KwikPen. Because they are the same insulin, pharmacists will be able to substitute Insulin Lispro Injection for Humalog.
Back in March, Eli Lilly announced plans to introduce Insulin Lispro Injection, which fills another gap in the health care system. The people who are most likely to benefit from Insulin Lispro Injection are Medicare Part D beneficiaries, people with high-deductible health plans and the uninsured who use Humalog.
Currently, about 95% of people in the United States pay $95 or less a month for their Humalog prescription, and 43% pay $0 at the retail pharmacy. With the launch of Insulin Lispro Injection, even more people will pay lower amounts at the pharmacy.
Mike Mason, senior vice president, Connected Care and Insulins, commented:
The current healthcare system isn’t working for everyone, causing a growing number of people with chronic conditions to struggle to afford their medicine. But even one person with diabetes who can’t afford insulin is too many, which is why we introduced Insulin Lispro Injection. It adds to our suite of solutions that help significantly lower the amount people pay until a more sustainable solution is achieved.
Will this move help Eli Lilly escape the list of America’s most hated companies? In addition, check out 10 things to consider before buying an insulin pen.
Shares of Eli Lilly were last seen at $116.85, in a 52-week range of $81.61 to $132.13. The consensus price target is $124.57.
Take Charge of Your Retirement In Just A Few Minutes (Sponsor)
Retirement planning doesn’t have to feel overwhelming. The key is finding expert guidance—and SmartAsset’s made it easier than ever for you to connect with a vetted financial advisor.
Here’s how it works:
- Answer a Few Simple Questions. Tell us a bit about your goals and preferences—it only takes a few minutes!
- Get Matched with Vetted Advisors Our smart tool matches you with up to three pre-screened, vetted advisors who serve your area and are held to a fiduciary standard to act in your best interests. Click here to begin
- Choose Your Fit Review their profiles, schedule an introductory call (or meet in person), and select the advisor who feel is right for you.
Why wait? Start building the retirement you’ve always dreamed of. Click here to get started today!
Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.
Latest from 24/7
Our expert who first called NVIDIA in 2009 is predicting 2025 will see a historic AI breakthrough.
You can follow him investing $500,000 of his own money on our top AI stocks for free.