Eli Lilly and Co. announced on Wednesday that prices for the company’s most commonly prescribed insulins will be reduced by up to 70 percent later this year, a move praised by President Joe Biden, who urged other drugmakers to follow.
In a statement published on Mar. 1, the largest U.S. manufacturer of insulin said that it will cut the list price of its non-branded insulin to $25 a vial starting in May, making it “the lowest list-priced mealtime insulin available.”
In the fourth quarter of 2023—which starts in October—Lilly will also reduce the list price for Humalog, the drugmaker’s most commonly prescribed insulin, and for another insulin, called Humulin, by 70 percent, the company said….