How Eli Lilly cutting price for insulin set to affect Tri-State

How Eli Lilly cutting price for insulin set to affect Tri-State
Published: Mar. 1, 2023 at 6:47 PM CST|Updated: Mar. 1, 2023 at 6:49 PM CST
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HENDERSON, Ky. (WFIE) - Henderson’s Donna Briggs says she was recently prescribed insulin by her doctor, but for about six years, she has taken other diabetes medication that helps to control her condition and its pricey.

“I don’t have a money tree in my backyard to pay for all of this, it’s just not there,” said Briggs.

Eli Lilly and Company, an American drug production company, announced its out-of-pocket price for insulin will go down to $35 per month and will charge $25 a vial for its non-branded insulin, making it the cheapest insulin on the market beginning May 1.

[READ MORE: Lilly plans to slash some insulin prices, expand cost cap]

Briggs says she was prescribed a different insulin brand by her doctor, and other companies should look to follow the lead of Eli Lilly in insulin prices.

“They need to do the same thing,” said Briggs. “They need to start cutting prices on it. I can’t believe that it costs that much for some little vile of medicine.”

Chris Butler, Henderson pharmacist and owner of Butler’s Apothecary, says the price reduction is needed for many before May. He says many with diabetes are having to navigate the large financial burden of medication and its accessories.

Butler says he helps customers living with diabetes budget and find ways to afford the price of insulin, the medication he says many depend on.

“If you got a $600, $700 car payment and you can’t afford your insulin, you can’t drive the car if you’re dead, I mean you have to pay for your insulin,” said Butler. “So I mean we have to start worrying about the complete picture and not just the luxuries of life.”

Other Henderson pharmacists like John Marshall with T&T Drugs say they also go to extensive lengths to ensure customers can handle the financial weight of diabetes medication.

“There’s a lot of people that we have to send out to the local health department because they just can’t afford it, so I think a lot of those people will be able to pay out of pocket now,” said Marshall.

Briggs says companies should consider senior citizens when setting prices, and she’s hoping more change is on the way.