Eli Lilly Caps Insulin Cost at $35 a Month

Eli Lilly Caps Insulin Cost at $35 a Month

Eli Lilly Caps Insulin Cost , at $35 a Month.

Eli Lilly Caps Insulin Cost , at $35 a Month.

NBC News reports that the drugmaker made the announcement on March 1.

The change comes a month after a provision in the Inflation Reduction Act imposed a similar cap for seniors with Medicare.

Experts say other U.S. insulin makers could follow Eli Lilly's direction in capping the cost of the life-saving medication.

Those with private insurance will have immediate access to the lower cost.

People without insurance can join Eli Lilly's copay assistance program to be eligible.

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A company spokesperson said all of its insulin products are covered under the cap.

Drugmakers have long been scrutinized for their high insulin costs.

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According to public policy think tank the Rand Corporation, the average price of a vial of insulin in America in 2018 was $98.70.

The American Diabetes Association reports that approximately 8.4 million people across the country rely on insulin.

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Three out of 10 diabetics use Eli Lilly products.