Eli Lilly announced it would cut the price of its most commonly prescribed insulin products by 70 per cent in response to mounting political pressure over the high cost of the diabetes medication.
The US drugmaker said on Wednesday it would also take other steps to make its products more affordable for patients, including expanding an existing value programme that caps patients’ out-of-pocket costs to $35 or less a month for people on commercial insurance policies. This price cap change would take effect immediately.
The changes to insulin pricing by Eli Lilly follow fierce political pressure over the high cost of a drug, which was invented in the 1920s but can still cost diabetes sufferers thousands of dollars a year to buy in the US.
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