Eli Lilly offers generic version of its insulin Humalog at half-price

Eli Lilly offers generic version of its insulin Humalog at half-price

The list price of one vial of Insulin Lispro would be $137.35, Lilly said.

In a major victory for people with diabetes, Eli Lilly and Company announced Monday it will sell a lower-priced generic version of insulin.

Two senators last month launched an investigation into rising insulin prices, writing to Lilly and other leading manufacturers, asking them why the cost of the almost 100-year-old medication had rapidly risen. The first "Pharma Fleece Award" was given to Eli Lilly - along with Novo Nordisk and Sanofi - the three pharmaceutical companies that manufacture insulin, which has experienced a price increase of more than 600 percent over the past two decades in the United States.

"We've engaged in discussions about the price of insulin with many different stakeholders in America's health care system", said David A. Ricks, Lilly's chairman and chief executive officer.

The soaring cost of insulin has been the focus of recent campaigns that highlight how patients struggle to afford the medicine they need to live. "We're eager to bring forward a low-cost rapid-acting insulin". "We hope our announcement is a catalyst for positive change across the USA healthcare system". The new product, which the company said would be made available as quickly as possible, will be called Insulin Lispro and will be sold through a Lilly subsidiary, ImClone Systems. A five-pack of the insulin pens will be $265.20.

In December 2016, Lilly introduced the first follow-on biologic basal insulin in the US, at a reduced price compared to branded competition.

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The new insulin is a generic version of Lilly's popular Humalog.

Two senators last month launched an investigation into rising insulin prices, writing to Lilly and other leading manufacturers, asking them why the cost of the almost 100-year-old medication had rapidly risen.

"Clearly, the insulin cartel is feeling pressure after years of price gouging a lifesaving drug", he wrote.

Humalog brought in $1.8 billion in USA sales and about $3 billion globally a year ago for Indianapolis-based Eli Lilly and Co.

It will help by "immediately providing a more affordable option for certain Americans in high-deductible health insurance plans, the uninsured and seniors that hit the coverage gap in their Medicare Part D plans", writes Ricks in a blog post.

In 2012, Marston lost her job and found herself paying the full list price for Humalog, a life-saving medication used by people with diabetes to help process sugar found in the blood.

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