Eli Lilly plans to sell an authorized generic version of its blockbuster insulin, Humalog, for half the cost.
The generic, Lispro, will have a list price that is 50 percent less than Humalog’s, making the insulin more affordable to customers in high-deductible health insurance plans, those who are uninsured or those who have hit the coverage gap in their Medicare Part D plans.
Lilly’s move is one of the first by a major drugmaker to offer a reduced-price version of a major product, and could put pressure on other pharmaceutical companies to do the same.
"When patients pay for prescriptions at the pharmacy, these plans typically don’t directly pass on to patients the rebates they receive from pharmaceutical companies. Health plans instead use rebates to reduce premiums for all members of their plan or fund other priorities. The result is that people with chronic diseases like diabetes subsidize insurance for everyone else. This has to change," stated Lilly Chairman and CEO, Dave Ricks
Read the Lilly press release