Uninsured Americans pay steep costs for an insulin Eli Lilly promised to cost $25, Senator Warren says

Uninsured Americans pay nearly $98 on average for a vial of Eli Lillyof 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 Senator Elizabeth Warren.

Eli Lilly earlier this year promised to cut the list price of its generic insulin, Lispro, from $82.42 per vial effective May 1. The Indianapolis-based pharmaceutical company is one of the largest manufacturers of insulin in the world.

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The Massachusetts senator’s report surveyed more than 300 drug chains and independent drugstores across the United States between June 9 and June 28 to determine whether Eli Lilly’s announced price cut “translated into any 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 generic insulin, compared to the average $63 for independent pharmacies.

Eli Lilly did not immediately respond to CNBC’s request for comment on the poll.

The survey results suggest that “Eli Lilly’s promises of accessible and affordable insulin are not being realized for uninsured patients across the country,” Warren said in a statement.

He said the data also shows Congress needs to take more steps to curb excessive pricing, such as capping insulin costs to $35 a month for all patients, regardless of their insurance status.

President Joe Biden’s Inflation Reduction Act currently limits insulin costs to $35 a month for people covered by Medicare.

“My new report confirms that too many uninsured Americans cannot access or afford to pay astronomical prices for life-saving generic insulin. Lawmakers need to step up and act,” Warren said in a news release.

Insured Americans typically pay a fraction of the list price for insulin. But uninsured people often have to pay the full cost, which can force them to ration or stop taking lifesaving diabetes treatment.

Nearly 30 percent of uninsured diabetic patients reported skipping insulin doses, taking less than prescribed or delaying purchases in the past year, Warren said, citing a 2022 study by researchers at Harvard and other institutions. .

“No American should ever be forced to choose between life-saving drugs, such as insulin, and their ability to pay for food, shelter and their daily needs,” Warren said.

Earlier this year, Eli Lilly, Sanofi AND Novo Nordisk have pledged to lower the list prices of their most common prescribed insulins by at least 70% by 2023.

Eli Lilly and Sanofi also capped monthly insulin costs at $35 for people who have private insurance.

Together, the three companies control 90% of the global insulin market.

Their pledges drew applause from lawmakers and from Biden, who was pleased that companies have finally answered calls to help make diabetes care more affordable in the U.S.

But Warren’s survey raises questions about the effectiveness of their cost-cutting efforts.

About 37 million people in the United States, or 11.3 percent of the country’s population, have diabetes, according to the Centers for Disease Control and Prevention.

About 8.4 million diabetic patients rely on insulin, the American Diabetes Association said.