Uninsured pay high costs for insulin Eli Lilly vowed to lower

Uninsured Americans spend nearly $98 on average for a bottle Eli Lillyof generic insulin, even though the company promised to reduce the list price of the product to $25 per bottleaccording to a Report Posted Thursday by Sen. Elizabeth Warren.

Eli Lilly vowed earlier this year to slash the list price of its generic insulin, Insulin lispro, starting May 1 at $82.42 a bottle. The Indianapolis-based pharmaceutical company is one of the world’s largest insulin makers.

The Massachusetts senator’s report surveyed more than 300 chain and independent drugstores in the U.S. between June 9 and 28 to determine whether the price cuts announced by Eli Lilly “translated into real relief for patients.”

A third of pharmacies are charging uninsured patients $164 or more for a bottle of Lilly’s Lispro, the survey found.

Seven drugstores were selling for $200 or more per bottle, and two of them were selling for more than $300.

Chain pharmacies charge uninsured customers an average of $123 per bottle of generic drug, compared with $63 for independent pharmacies.

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

In a statement, Warren said the findings showed that “Lilly’s promise to make insulin affordable for uninsured patients across the country has not been met.”

The data also suggest Congress needs to do more to rein in exorbitant prices, such as capping insulin deductibles at $35 a month for all patients, regardless of insurance status, she said.

President Joe Biden’s Inflation Reduction Act currently caps the insulin deductible for those covered by Medicare at $35 per month.

“My new report confirms that too many uninsured Americans do not have access or can afford to pay the astronomical prices for life-saving generic insulin — and lawmakers need to step up and take action,” Warren said in a press release. “

Americans with insurance typically pay a fraction of the list price for insulin. But those without insurance often have to pay the full cost, which could force them to ration or stop receiving life-saving diabetes treatment.

Warren cites a report that nearly 30 percent of people with uninsured diabetes reported that they missed insulin doses, took less than prescribed or delayed buying insulin in the past year. Study in 2022 Proposed by researchers at Harvard University and other institutions.

“No American should be forced to choose between lifesaving medicines like insulin and the ability to pay for food, housing and everyday needs,” Warren said.

Earlier this year, Eli Lilly Sanofi and Novo Nordisk Pledge to reduce the list price of the most commonly prescribed insulin by at least 70% later in 2023.

Eli Lilly and Sanofi are also limiting out-of-pocket insulin costs to $35 a month for people with private insurance.

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

Their pledge has won applause from lawmakers and Biden, who is pleased that the companies are finally answering the call to help lower the cost of diabetes care in the U.S.

But Warren’s survey raises questions about how effective their cost-cutting efforts are.

According to the CDC, approximately 37 million people in the United States, or 11.3 percent of the population, have diabetes. CDC.

About 8.4 million diabetics are insulin dependent American Diabetes Association explain.