Written by: euronews with ap
Indianapolis-based drug giant Eli Lilly said in a statement that it is “taking these actions to make our insulin easier to obtain and to help Americans who may struggle with a complex health care system.”
American pharmaceutical giant Eli Lilly announced Wednesday that it will cut the price of its most popular types of insulin by 70%, after years of high prices that negatively affected millions of Americans with diabetes.
This announcement comes after recording a rise in insulin prices in the past years, in exchange for a significant increase in demand. US President Joe Biden praised Eli Lilly’s move, calling on other companies to follow suit.
“Lilly’s company is taking these actions to make its insulin easier to obtain, and to help Americans who may struggle with a complex health care system,” the Indianapolis-based drugmaker said in a statement.
The company said it will lower the price of generic insulin to $25 a vial, starting May 1, and will also reduce the price of Humalog, the most commonly prescribed insulin for patients, and Humulin, by 70%, starting in May. Fourth quarter of this year.
“While the current health care system provides access to insulin for most people with diabetes, it still does not provide affordable insulin to everyone and this needs to change,” said David Ricks, CEO of Lilly. Diabetes is one of the fastest growing chronic diseases worldwide, according to a study conducted in 2022.