CHAMPAIGN, Ill. (WCIA) — After years of skyrocketing costs, insulin prices are coming down.
Eli Lilly plans to cut the costs of their insulin by 70%. They will also lower costs to $35 a month for customers who pay out-of-pocket with commercial insurance.
About a third of diabetics in the U.S. rely on insulin from Eli Lilly. Currently, a 10-milliliter vial costs more than $200. It will soon drop to just under $70.
OSF Family and Medicine doctor Aminat Ogun said many of her patients find it hard to afford the drug. She also said many patients can’t manage their blood glucose levels because they can’t afford it. Many have to use coupons or use lesser drugs to help deal with the pain. But insulin is the best.
“It helps to bring the glucose into the cells and absorbs it properly,” Ogun said. “So, for some patients with diabetes, it’s either they do not produce insulin for type 1, or the body does not recognize insulin as well as it should.”
Eli Lilly CEO David Ricks said they’re doing this voluntarily and that it’s the right thing to do.
Ogun hopes other drug companies will do the same.
“That would be great if all companies could take an example from Eli Lilly because that would improve everyone’s overall health in terms of diabetes,” Ogun said. “In America, there are over a million people with this disease so that would improve everyone’s health significantly.”
Eli Lilly CEO David Ricks said they’re doing this voluntarily and it’s the right thing to do. Ogun hopes other drug companies will do the same.