Has Lilly lowered its insulin prices?
Yes — in March 2023 Lilly cut Humalog's list price by 70% from $274.70 to $66.40 and capped out-of-pocket costs at $35 a month, following years of increases and mounting legal and political pressure.
Yes, substantially. In March 2023 Lilly announced it would cut the list prices of Humalog and Humulin by 70% and cap out-of-pocket costs at $35 a month for many patients. The list price of a 10mL Humalog vial fell from $274.70 to $66.40, and its unbranded insulin lispro dropped to $25 a vial. The cuts came amid heavy political pressure and followed the Inflation Reduction Act's $35 monthly cap for Medicare patients.
In February 2024 Lilly settled Minnesota's 2018 lawsuit by guaranteeing $35 insulin for all Minnesotans for five years. Critics note that the price cuts came after years of increases and that ongoing litigation seeks damages for past overcharges. Lilly says the cuts show its commitment to affordability.