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Lilly’s lower-priced generic insulin hits the market
INDIANAPOLIS—Yesterday Eli Lilly and Company announced that their generic Insulin Lispro Injection is now available for order in pharmacies for people who use their rapid-acting insulin Humalog and need a lower-cost option. Lilly’s Insulin Lispro Injection has a 50 percent lower list price than Humalog U-100 (insulin lispro injection), and is available in both a vial and a KwikPen. Because they are identical insulins, pharmacists will be able to easily substitute Insulin Lispro Injection for Humalog.
Lilly announced plans back in March to introduce Insulin Lispro Injection, which the company claims will fill a gap in the healthcare system. The people most likely to benefit from Insulin Lispro Injection are Humalog users who are Medicare Part D beneficiaries, have high-deductible health plans or are currently uninsured.
“The availability of Lilly’s Insulin Lispro Injection is important progress that helps more people afford their insulin,” said Mike Mason, senior vice president, Connected Care and Insulins, Lilly Diabetes. “Lilly will continue to work with health plans, wholesalers, employers and the government to work toward permanent solutions that will help every person with diabetes afford their medicines.”
Insulin Lispro Injection has a list price of $137.35 per vial and $265.20 for a package of five KwikPens. In addition to wholesaler contracts that have been secured, Lilly is working with payers to gain broad insurance coverage for Insulin Lispro Injection.
Lilly reports that around 95 percent of people in the U.S. pay $95 or less a month for their Humalog prescription, and 43 percent pay $0 at the retail pharmacy. With the launch of Insulin Lispro Injection, more people will hopefully be able to pay lower amounts at the pharmacy. Because many insurance plans provide affordable copays for chronic medicines that are much lower than list price, Lilly suggests that people should ask their pharmacist whether Insulin Lispro Injection or Humalog is the lower-cost option for them.
“The current healthcare system isn’t working for everyone, causing a growing number of people with chronic conditions to struggle to afford their medicine,” Mason added. “But even one person with diabetes who can’t afford insulin is too many, which is why we introduced Insulin Lispro Injection. It adds to our suite of solutions that help significantly lower the amount people pay until a more sustainable solution is achieved.”