Eli Lilly will cut prices for some older insulins later this year and immediately expand a cap on costs insured patients pay to fill prescriptions, according to a report from the Associated Press.
The moves announced Wednesday promise critical relief to some people with diabetes who can face annual costs of more than $1,000 for insulin they need in order to live. Lilly’s changes also come as lawmakers and patient advocates pressure drugmakers to do something about soaring prices.
Lilly said it will cut the list price for its most commonly prescribed insulin, Humalog, and for another insulin, Humulin, by 70% in the fourth quarter, which starts in October. The drugmaker didn’t detail what the new prices would be.
