'Step in the right direction': Local pharmacist weighs in as Eli Lilly announces insulin price changes
MILWAUKEE (CBS 58) -- Insulin could be a lot cheaper for those who need it soon.
Insulin manufacturer Eli Lilly has announced it's capping monthly costs of some common insulin products at $35 for a month's supply.
Eli Lilly says some products will be 70% cheaper than before, and pharmacists and people who advocate for those who live with diabetes say this is a step in the right direction.
"If they're uninsured, it can be four or $500 a month. If they are, if they have private insurance, it can be 100 to $200," said Hayat Pharmacy Pharmacist Hasim Zaibak.
He says the cost of insulin has been hard for patients.
One survey found one-fourth of patients reported using less insulin because of the cost.
That cost tripled from 2002 to 2013, costing over 8 million Americans who rely on the drug an estimated $10,000 a year.
While Zaibak says he's glad things are changing, he says what he's seen from Eli Lilly so far doesn't make it clear what products this will effect.
More specifically, the modern KwikPen, which he says most people use.
"They really focused on the vials, and pens are the most popular form of delivery for insulin. So, I'm a little concerned, are they going to exclude the pens or are they going to include it in that announcement?" said Zaibak.
If pens aren't included, many people may be depending on old fashioned injections that he says aren't as accurate or safe.
The American Diabetes Association, or ADA, advocates for people with diabetes.
CEO Chuck Henderson released the following statement about the changes:
“The American Diabetes Association (ADA) is the leading voice advocating for insulin affordability and is working to ensure that all people with diabetes have access to the care they need. We applaud Eli Lilly for taking the important step to limit cost-sharing for its insulin, and we encourage other insulin manufacturers to do the same. While we have been able to help achieve significant progress on the issue of insulin affordability, including Medicare’s new out-of-pocket cost cap on insulin, state copay caps, and patient assistance developments from insulin manufacturers, we know that our work is not done. ADA will work to ensure that Eli Lilly’s patient assistance program is benefiting patients as intended and continue the fight so that everyone who needs insulin has access.”
"Nobody wants to be the bad guy. Nobody wants to be the company that's selling the most expensive insulin," said Zaibak.
Zaibak says he thinks other companies will change things as well, but most importantly, more people will hopefully have access to the drug.
"It's definitely a step in the right direction. Anytime we can reduce the cost of insulin for people who need it, that's good news. That's more lives that we can save. These are more people that we can keep healthy for a longer period of time."
Eli Lilly's press release noted the changes to the following products:
•Cutting the list price of its non-branded insulin, Insulin Lispro Injection 100 units/mL, to $25 a vial. Effective May 1, 2023, it will be the lowest list-priced mealtime insulin available, and less than the price of a Humalog® vial in 1999.
•Cutting the list price of Humalog® (insulin lispro injection) 100 units/mL1, Lilly's most commonly prescribed insulin, and Humulin® (insulin human) injection 100 units/mL2 by 70%, effective in Q4 2023.
•Launching RezvoglarTM (insulin glargine-aglr) injection, a basal insulin that is biosimilar to, and interchangeable with, Lantus® (insulin glargine) injection, for $92 per five-pack of KwikPens®, a 78% discount to Lantus, effective April 1, 2023.
The American Diabetic Association says nearly half of the U.S. population lives with diabetes or pre-diabetes.
Diabetes was the seventh leading cause of death in 2020.