Benzinga | Sep 28, 2021 06:41AM EDT

Eli Lilly Lowers Price Of Insulin Lispro Injection By Additional 40% Effective Jan. 1

Eli Lilly and Company (NYSE:LLY) will lower the list price of Insulin Lispro Injection in the U.S. by an additional 40 percent effective January 1, 2022, effectively bringing the list price down to 2008 levels. The new list price will apply to all Lilly's non-branded insulins, including Insulin Lispro Injection, a lower list-priced alternative to Humalog U-100.

The new lower list price is the latest among numerous options that can reduce out-of-pocket costs for Lilly insulin at U.S. retail pharmacies. People using any Lilly insulin -- including Insulin Lispro Injection -- can fill their monthly prescription for $35 through the Lilly Insulin Value Program for people with commercial insurance or who are uninsured, and the Senior Savings Model for seniors in participating Medicare Part D plans.

The new list price for Insulin Lispro Injection will be $82.41 for individual vials and $159.12 for a pack of five pens -- which is 70 percent less than Lilly's branded Humalog U-100 counterparts and can help people who have not activated one of Lilly's affordability solutions.

"Lilly has introduced numerous affordability programs since 2017. Collectively, these solutions are significantly lowering the out-of-pocket costs for people using our insulins," said David A. Ricks, Lilly's chairman and CEO. "Today's list price cut can further help people who are exposed within our healthcare system -- the underinsured and uninsured. Half list-priced Insulin Lispro Injection has been adopted by a third of Humalog U-100 consumers. We hope this additional 40 percent cut can expand affordable insulin to more people with diabetes."

Lilly's numerous affordability solutions, combined with insurance coverage, have lowered the average monthly out-of-pocket cost for a prescription of Lilly insulin (regardless of the number of vials or pens) to $28.05, a 27 percent decrease over the past four years. In addition to lowering the list price of Insulin Lispro Injection, Lilly will keep other affordability programs in place for people using Lilly insulins -- including the $35 co-pay card for the uninsured and people with commercial insurance, and the Senior Savings Model for people in participating Medicare Part D plans.