Eli Lilly to introduce authorized generic of its Humalog
Eli Lilly is introducing a lower-priced version of its Humalog insulin lispro injection. The company noted that the launch will offer a 50% lower list price that Humalog's current list price.
The lower-priced version will be called Insulin Lispro—the same molecule as Humalog—and will be available in vial and pen options, the company said.
The list price of a single vial will be $137.35. The list price of a five-pack of KwikPens will be $265.20. Vials and pens of the lower-priced insulin have been manufactured, and Lilly will work with supply chain partners to make them available in pharmacies as quickly as possible, Lilly said.
The product will be made available as an authorized generic through a Lilly subsidiary, ImClone Systems. Humalog will also remain available for people who want to continue accessing it through their current insurance plans. Introducing an alternative insulin option allows Lilly to provide lower-priced insulin more quickly while providing payers time to renegotiate downstream contracts and adjust to new system economics, the company said.
"We've engaged in discussions about the price of insulin with many different stakeholders in America's health care system: people living with diabetes, caregivers, advocacy groups, health care professionals, payers, wholesalers, lawmakers, and leading health care scholars," Lilly's chairman and chief executive officer David Ricks said, adding, "Solutions that lower the cost of insulin at the pharmacy have been introduced in recent months, but more people need help. We're eager to bring forward a low-priced rapid-acting insulin. The significant rebates we pay on insulins do not directly benefit all patients. This needs to change."
Ricks continued, "There are numerous ideas, including the rebate reform proposal from Health and Human Services. For people with diabetes, a lower-priced insulin can serve as a bridge that addresses gaps in the system until a more sustainable model is achieved."
"While this change is a step in the right direction, all of us in the health care community must do more to fix the problem of high out-of-pocket costs for Americans living with chronic conditions," Ricks said. "We hope our announcement is a catalyst for positive change across the U.S. health care system."
The lower-priced version will be called Insulin Lispro—the same molecule as Humalog—and will be available in vial and pen options, the company said.
The list price of a single vial will be $137.35. The list price of a five-pack of KwikPens will be $265.20. Vials and pens of the lower-priced insulin have been manufactured, and Lilly will work with supply chain partners to make them available in pharmacies as quickly as possible, Lilly said.
The product will be made available as an authorized generic through a Lilly subsidiary, ImClone Systems. Humalog will also remain available for people who want to continue accessing it through their current insurance plans. Introducing an alternative insulin option allows Lilly to provide lower-priced insulin more quickly while providing payers time to renegotiate downstream contracts and adjust to new system economics, the company said.
"We've engaged in discussions about the price of insulin with many different stakeholders in America's health care system: people living with diabetes, caregivers, advocacy groups, health care professionals, payers, wholesalers, lawmakers, and leading health care scholars," Lilly's chairman and chief executive officer David Ricks said, adding, "Solutions that lower the cost of insulin at the pharmacy have been introduced in recent months, but more people need help. We're eager to bring forward a low-priced rapid-acting insulin. The significant rebates we pay on insulins do not directly benefit all patients. This needs to change."
Ricks continued, "There are numerous ideas, including the rebate reform proposal from Health and Human Services. For people with diabetes, a lower-priced insulin can serve as a bridge that addresses gaps in the system until a more sustainable model is achieved."
"While this change is a step in the right direction, all of us in the health care community must do more to fix the problem of high out-of-pocket costs for Americans living with chronic conditions," Ricks said. "We hope our announcement is a catalyst for positive change across the U.S. health care system."