Eli Lilly creates generic Humalog priced 50% lower
Eli Lilly and Company has announced plans to sell Insulin Lispro, an authorized generic version of its brand-name Humalog insulin drug.
Compared to Humalog, Insulin Lispro prices will reduce out-of-pocket costs by more than 50%, with one 3mL vial listed at $137.35, and a five-pack of KwikPens at $265.20. The drug will be sold through Lilly subsidiary ImClone systems.
In a press release, Lilly states that is already working with supply chain partners to make the product available at pharmacies as quickly as possible.
"There are numerous ideas, including the rebate reform proposal from HHS. 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,” says David A. Ricks, Lilly’s chairman and chief executive officer.
The availability of a lower-cost alternative to a brand-name insulin comes as a result of mounting public and political pressure for drug manufacturers to reduce out-of-pocket costs for consumers, citing unwarranted price increases. Many patients and consumers groups have complained about large increases in the price of insulin products.
Humalog will remain available to patients who wish to continue accessing it through their insurance plans. Given that Insulin Lispro is an authorized generic–indicating identical composition and manufacturing to brand-name Humalog–there is likely no reason for a patient to shift to the new offering unless it would result in a substantial out-of-pocket difference.
Prescribing Information for Humalog and Insulin Lispro
Indications: improve glycemic control in adults and children with diabetes mellitus