Americans without health insurance spend an average of $98 for Eli Lilly’s generic insulin. This is a significant amount for many. The firm has reduced the amount to about $25 this year.
This year, all these firms had plans to reduce the prices of their insulin. It was a much-awaited move. Efforts by the US President are significant in the process.
The American Diabetes Association estimates that 8.4 million of the 37 million Americans who have diabetes take insulin.
According to a representative of the National Community Pharmacists Association, the inflated prices were caused by agreements with pharmacy benefit managers and the middlemen bargaining for discounts with drug makers.
“Less than a quarter of CVS pharmacies stocked the generic insulin, whereas 74% of Walgreens pharmacies did, along with 82% of Rite Aid and Walmart drug stores. Almost half – 43% – of all stores surveyed said they did not carry the drug. “This is a deeply troubling finding, revealing that the pharmacies offering the most affordable Insulin Lispro were the least likely to have it in stock,” informs the report.