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Big news for people with diabetes: Eli Lilly and Co. announced they’ll lower the prices of their most commonly prescribed insulins by 70% and make it easier for people living with diabetes to access affordable insulin by expanding their Insulin Value Program to $35 per month.
Insulin is a lifesaving medication that’s critical for people living with diabetes, but historically many people have struggled to afford the medication. Lilly’s March 1 announcement comes on the heels of the Biden Administration’s Inflation Reduction Act, which capped the price of insulin for Medicare enrollees at that same price point — $35 a month.
We’ll tell you what’s happening, which insulins are affected, and who’s able to get the cheap insulin:
You won’t pay more than $35/month for Lilly insulin — insurance or not.
If you have Medicare, insulin is already capped at $35/month under the Inflation Reduction Act. If you have private insurance, Lilly says you won’t pay more than $35/month (although, depending on your insurance, it could be even less than that).
If you don’t have private insurance and pay for insulin out of pocket, you can sign up for the Lilly’s newly expanded Insulin Value Program, which gives you a GoodRx-like savings card that you present to your pharmacist when you get your month’s supply of insulin. With the program, you’ll get access to the $35/month insulin.
Lilly is also making big cuts to the list prices of their most-prescribed insulins.
As of May 1, 2023, the price of Insulin Lispro Injection 100 units/mL will be $25 a vial, which is the lowest list price for mealtime insulin. Starting in late 2023, the cost of Humalog 100 units/mL and Humulin injection 100 units/mL will be reduced by 70%.
In addition, Lilly is launching their new Rezvoglar injection — a biosimilar insulin that’s interchangeable with the popular Lantus injection. It’ll cost $92 per 5-pack of KwikPens, which is a 78% discount compared to Lantus. Rezvoglar will be available starting April 1, 2023.
Other insulin makers are offering discounts, too.
If you’re struggling to afford insulin, know that there are other companies besides Eli Lilly that have taken steps to make the medication more affordable. In 2019 Sanofi created the Insulin ValYOU Savings Program, which charged patients $99 a month for insulin, regardless of income.
Novo Nordisk introduced a similar program called My$99Insulin in 2021. The same year, that company collaborated with Walmart to sell private-label analog insulin at a deep discount. Walmart’s ReliOn NovoLog vials and FlexPens save customers between 58% to 75% on the cash price for branded insulin.
