Uninsured Americans pay high costs for an insulin Eli Lilly vowed to price at $25, Sen. Warren says

Original Article:

Source: Link

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. Uninsured Americans pay nearly $98 on average for a vial of Eli Lilly 's generic insulin, even after the company pledged to cut the product's list price to $25 per vial, according to a report released Thursday by Sen. Elizabeth Warren. Eli Lilly earlier this year vowed to slash the list price of its generic insulin, Lispro, from $82.42 per vial starting on May 1. The Indianapolis-based pharmaceutical company is one of the world's largest insulin manufacturers. The Massachusetts senator's report surveyed more than 300 chain and independent pharmacies in the U.S. between June 9 and 28 to determine whether Eli Lilly's announced price cut "translated into real relief for patients." The survey found that a third of pharmacies charged uninsured patients $164 or more for a vial of Eli Lilly's Lispro. Seven pharmacies charged $200 per vial or more, and two sold the product for more than $300. Chain pharmacies charged uninsured customers an average of $123 per vial for the generic insulin, compared with $63 on average at independent pharmacies. Eli Lilly did not immediately respond to a request for comment on the survey. The survey findings suggest that "Eli Lilly's promises of affordable, accessible insulin have not been realized for uninsured patients across the country," Warren said in a statement. She said the data also demonstrate that Congress needs to take more steps to rein in excessive prices, such as capping insulin copays at $35 per month for all patients, regardless of their insurance status. President Joe Biden's Inflation Reduction Act currently caps insulin copays at $35 per month for people covered by Medicare. "My new report confirms that far too many uninsured Americans cannot access or cannot afford to pay astronomical prices for life-saving generic insulin – lawmakers need to step up and take action," Warren said in a press release.