Uninsured pay high costs for insulin Eli Lilly vowed to lower

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured in Branchburg, Recent Jersey, March 5, 2021.

Mike Segar | Reuters

Uninsured Americans pay nearly $98 on average for a vial of Eli Lilly‘s generic insulin, even after the corporate pledged to chop the product’s list price to $25 per vial, in keeping with a report released Thursday by Sen. Elizabeth Warren.

Eli Lilly earlier this 12 months vowed to slash the list price of its generic insulin, Lispro, from $82.42 per vial starting May 1. The Indianapolis-based pharmaceutical company is considered one of the world’s largest insulin manufacturers.

The Massachusetts senator’s report surveyed greater than 300 chain and independent pharmacies within the U.S. between June 9 and June 28 to find out whether Eli Lilly’s announced price cut “translated into real relief for patients.”

The survey found that a 3rd 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 greater than $300. 

Chain pharmacies charged uninsured customers a median of $123 per vial for the generic insulin, compared with $63 on average at independent pharmacies. 

Eli Lilly didn’t immediately reply to CNBC’s request for comment on the survey. 

The survey findings suggest “Eli Lilly’s guarantees of reasonably priced, accessible insulin haven’t been realized for uninsured patients across the country,” Warren said in an announcement.

She said the information also demonstrates Congress must take more steps to rein in excessive prices, equivalent to capping insulin copays at $35 monthly for all patients, no matter their insurance status.

President Joe Biden’s Inflation Reduction Act currently caps insulin copays at $35 monthly for people covered by Medicare.

“My recent report confirms that far too many uninsured Americans cannot access or cannot afford to pay astronomical prices for life-saving generic insulin — lawmakers have to step up and take motion,” Warren said in a press release.

Sen. Elizabeth Warren, D-MA, speaks during a Senate Banking Committee hearing on Capitol Hill in Washington, D.C., June 13, 2023.

Michael A. Mccoy | Getty Images

Insured Americans typically pay a fraction of the list price for insulin. But uninsured people often need to pay the complete cost, which might force them to ration or stop taking the life-saving diabetes treatment.

Nearly 30% of uninsured patients with diabetes reported skipping doses of insulin, taking lower than prescribed or delaying purchases over the past 12 months, Warren said, citing a 2022 study by researchers from Harvard and other institutions.

“No American should ever be forced to make a choice from life-saving medication, like insulin, and their ability to pay for food, shelter, and their on a regular basis needs,” Warren said.

Earlier this 12 months, Eli Lilly, Sanofi and Novo Nordisk committed to lowering the list prices of their most typical prescribed insulins not less than 70% later in 2023.

Eli Lilly and Sanofi also capped monthly out-of-pocket insulin costs at $35 for individuals who have private insurance.

Together, the three corporations control 90% of the worldwide insulin market. 

Their commitments drew applause from lawmakers and Biden, who was pleased the businesses finally answered calls to assist make diabetes care more cost-effective within the U.S. 

But Warren’s survey raises questions on how effective their cost-cutting efforts shall be. 

About 37 million people within the U.S., or 11.3% of the country’s population, have diabetes, in keeping with the Centers for Disease Control and Prevention.

Roughly 8.4 million diabetes patients depend on insulin, the American Diabetes Association said.