insulin

A vial of insulin can cost pharmaceutical companies just a few dollars to produce, but the cost to patients can be between $300 and $700, according to Indiana Attorney General Todd Rokita.

Novo Nordisk along with Sanofi and Indianapolis-based Eli Lilly control over 90 percent of the world insulin market.

The company’s Humalog and Humalin insulins will have a 70 percent price cut later this year. Its non-branded insulin will also receive a price cut.

Advocates with T1International said what Eli Lilly has done so far to lower insulin prices is still not enough.

Federal student loan forgiveness rolls out, insulin prices remain high despite government action, and an expert discusses the Russian politics behind the war in Ukraine. These stories and more in Indiana Newsdesk.

The $750 billion economic package creates a $35 insulin co-pay cap for people on Medicare. President Joe Biden has touted the package as a big win for Americans, but many Hoosiers who rely on insulin were disappointed by the final product.

Diabetes advocates say Eli Lilly’s latest price reduction on one of its generic insulins is not enough. One group says the cost of insulin is still “unaffordable and inappropriate” for many people.

Starting Jan. 1, Lilly will drop the cost of its Insulin Lispro Injection – the generic of its insulin Humalog – by 40 percent, saving about $50 per vial. The reduction makes the price comparable to what it was in 2008.