Eli Lilly (LLY) announced plans to lower the wholesale price of certain insulin products by an additional 40% in January 2022, the latest bid by a drug maker to combat criticism that the cost of these life-saving diabetes treatments are out of reach for too many patients.
The move involves dropping the price of Insulin Lispro Injection in the U.S. to $82.41 for individual vials and $159.12 for a pack of five pens, which the company maintained will be 70% of the cost of Humalog U-100, a brand-name version of the product. The new wholesale price, which will lower the wholesale price for the product, will apply to all so-called authorized generic versions of Humalog that Lilly sells.
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