Drug maker Eli Lilly & Co. will offer a half-price version of its blockbuster insulin, becoming one of the first companies to effectively cut the price of a top-selling drug amid the ongoing U.S. debate over pharmaceutical costs.
Eli Lilly will keep selling its Humalog insulin at the existing price, but it will also sell a half-cost “authorized generic” called Insulin Lispro.
Drug maker Eli Lilly & Co. will offer a half-price version of its blockbuster insulin, becoming one of the first companies to effectively cut the price of a top-selling drug amid the ongoingAlthough it will continue selling its brand-name version, Humalog, at its existing price, Indianapolis-based Lilly will also sell a half-price “authorized generic” called Insulin Lispro for $137.35 a vial, or $265.20 for a five-pack of injectable pens.
“The significant rebates we pay on insulins do not directly benefit all patients. This needs to change,” Lilly Chief Executive David Ricks said in a statement announcing the move. “We hope our announcement is a catalyst for positive change across the U.S. healthcare system.” Lilly’s move is one of the first by a major drug maker to offer a cut-price version of a major product, and it could put pressure on other pharmaceutical companies to do the same.
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