LOUISVILLE, Ky. — Eli Lilly, the largest insulin manufacturer in the United States, announced a cut in prices people pay out of pocket for their insulin. Eli Lilly CEO, Dave Ricks, said the goal is to help Americans with price and accessibility.
“With the change last year in the Medicare part D benefit, the senior benefit to 35 dollars- we think that should be the new standard in America. We couldn’t wait for congress to act, or the health care in general to apply to that standard. We’re just applying it ourselves,” Ricks said.
A 2021 report by the American Diabetes Association found over 34 million Americans have diabetes. In Kentucky, that number breaks down to approximately 400,000 adults—or over 13% of the Commonwealth.
Dr. Sathya Krishnasamy with UofL Physicians-Endocrinology at UofL Health says Kentucky is a state that lies in the diabetes belt with a high prevalence of it found among Kentuckians.
She said, “Patients with diabetes and pre-diabetes... we are some of the higher end in terms of the prevalence of diabetes.”
The Diabetes Association report claims diagnosed diabetes costs an estimated $5.2 billion in Kentucky each year. Dr. Krishnasamy said the report and the Eli Lilly announcement are a bonus for those they work with.
“Every time I’m in a patient’s room and they talk about I couldn’t take it because I went to the store, and it cost $300. Sometimes, it brings tears to your eyes that you’re very helpless. You know you can’t do much. And it’s very frustrating that you’re able to prescribe but they can’t take it. So this makes a big difference,” Dr. Krishnasamy added.
Eli Lilly plans to launch a media campaign in the spring and go on a bus tour to spread the word about insulin savings. The company says the price cap will take effect at about 85% of all pharmacies. The other 15% don’t take part in an online system which allows the company to intervene at the pharmacy counter. But patients will be able to print out a barcode coupon to help once everything is in effect.