People with diabetes who pay thousands of dollars for life-saving insulin each year will be able to keep more money in their wallet after Eli Lilly on Wednesday said it will cut insulin prices and cap out-of-pocket costs at $35 a month, or $420 a year.
People with diabetes who pay thousands of dollars for life-saving insulin each year will be able to keep more money in their wallet after Eli Lilly on Wednesday said it will cut insulin prices and cap out-of-pocket costs at $35 a month, or $420 a year.
This move from the largest insulin manufacturer in the U.S. comes after the federal government recently capped the cost of insulin for seniors on Medicare at $35 per month.
“For far too long, American families have been crushed by drug costs many times higher than what people in other countries are charged for the same prescriptions,” President Biden said in a statement following Eli Lilly’s announcement. “Insulin costs less than $10 to make, but Americans are sometimes forced to pay over $300 for it.
