Eli Lilly To Sell Generic Version Of Insulin At Half Price

(CNN) — Pharmaceutical company Eli Lilly will sell a cheaper generic version of its rapid-acting insulin Humalog, according to a statement Monday from Chairman and CEO Dave Ricks. At 50% the price of Humalog, the generic insulin lispro will carry a list price of $137.35 per vial, the company said, or $265.20 for a pack of five pens. Brand-name Humalog will remain on the market. The move comes amid growing concerns about the soaring prices of drugs — insulin in particular — which have led many people with diabetes to cut back on their insulin in order to save on costs, in some cases leading to harmful or even deadly complications. “We don’t want anyone to ration or skip doses of insulin due to affordability. And no one should pay the full Humalog retail price,” Ricks said, describing the generic drug as “a bridge that addresses gaps in the current system until we have a more sustainable model.” In February, seven executives of top pharmaceutical companies were grilled before a congressional panel about the nation’s skyrocketing drug prices. A week prior, Sens. Chuck Grassley and Ron Wyden began an investigation into insulin prices, sending letters to leading manufacturers Eli Lilly, Novo Nordisk and Sanofi about their recent price increases. In January, Wyden said there was no clear reason “why the list price of Eli Lilly’s main insulin drug, Humalog, went from $21 a vial in 1996 to its current list price of $27...
Source: WBZ-TV - Breaking News, Weather and Sports for Boston, Worcester and New Hampshire - Category: Consumer Health News Authors: Tags: Consumer Health News CNN Diabetes insulin Source Type: news