YUMA, Ariz. (KYMA, KECY) - Pharmaceutical company Eli Lilly announced a series of price cuts that would lower the price of the most commonly used forms of its insulin.
On Wednesday, March 1, the company said it will automatically cap out-of-pocket insulin costs at $35 for people who have private insurance and use participating pharmacies.
Lilly says it will expand its Insulin Value Program, which caps out-of-pocket costs at $35 or less per month for people who are uninsured.
Eli Lilly says it will cut the list price of its nonbranded insulin to $25 a vial as of May 1, making it the lowest list-priced mealtime insulin available. Its current list price is $82.41 for a vial.
Lilly is taking these actions to make it easier to access Lilly insulin and help Americans who may have difficulty navigating a complex healthcare system that may keep them from getting affordable insulin.
This will bring relief to many local diabetics, as they have to use insulin every day to survive.
We spoke to one local father who says for his daughter, a type one diabetic, insulin is a matter of life or death.