Insulin is a hormone that regulates blood sugar levels in the body. It is essential for people with diabetes to manage their condition and prevent serious health complications. However, the cost of insulin in the United States has been a significant issue in recent years, causing devastating effects on patients.
The cost of insulin in the United States has increased significantly over the past decade. The average price of insulin has skyrocketed from 2002 to 2013, and it has continued to rise since then. The annual average cost of insulin per person is $6,000. This does not account for the other necessary medical supplies. The high cost of insulin can be attributed to several factors, including the lack of competition among drug manufacturers, the complexity of the drug supply chain, and the high cost of research and development.
The negative effects of the high cost of insulin are numerous. One of the most significant impacts is that many people with diabetes cannot afford their insulin and are forced to ration their insulin doses, which can lead to serious health complications, including organ damage and death.
The high cost of insulin also creates financial strain for individuals and families who must pay for it out-of-pocket, as well as for insurance companies and government programs such as Medicare and Medicaid. This can lead to higher premiums, deductibles, and co-payments for patients, which can further exacerbate the financial burden of managing diabetes.
The high cost of insulin in the United States has significant negative effects on the diabetic community. It is essential for policymakers, drug manufacturers, and other stakeholders to address this issue and find solutions to ensure that insulin is affordable and accessible to everyone who needs it.
To date, all three insulin manufacturers have decreased their prices. Eli Lilly was the first to do so on March 1, 2023. Eli Lilly enacted a decrease by 70% for their most common prescriptions. Eli Lilly manufactures these insulins: Humalog, Humalin R, Humalin N, Basaglar, Humalog 75/25, Humalog 50/50, Humalin 70/30 and Rezvoglar.
The generic insulin, insulin lispro will be capped at $25 per vial. Brand name Humalog and Humalin will be reduced by 70%. The brand new Rezvoglar will be capped at $92 per five pack of Kwikpens. In participating retail pharmacies, insulin manufactures by Eli Lilly will be capped at $35 per vial.
Novo Nordisk announced a price reduction on March 14, 2023. The reduction will go into affect January 1, 2024 and will cut the price by 75% off of Novolog and Novolog 70/30. Novolin and Levemir will be reduced by 65%. Novo Nordisk manufactures: Novolog, Fiasp, Novolin R, Novolin N, Levemir, Tresiba, Xultophy, Novolin 70/30, Novolog Mix 70/30, and Ryzodeg 70/30.
Novo Nordisk also states that they will be reducing the cost of their generic insulins to reflect the reductions of their branded counterpart.
The last company to make an announcement was Sanofi on March 15, 2023. The cap totals $35 per vial only for their long acting insulin Lantus. Sanofi manufactures the following insulins: Apidra, Afrezza, Admelog, Lantus, Toujeo, Soligua.
Diabetes remains one of the most expensive chronic illness in the United States. It is important to note that there is no difference in the generic insulin to the branded insulin other than cost. All insulin should be affordable.
If you struggle with insulin costs GetInsulin.org has detailed resources for assistance.
References
Eli Lilly. (2023, March 1). Lilly Cuts Insulin Prices by 70% and Caps Patient Insulin Out-of-Pocket Costs at $35 Per Month | Eli Lilly and Company. Eli Lilly and Company. https://investor.lilly.com/news-releases/news-release-details/lilly-cuts-insulin-prices-70-and-caps-patient-insulin-out-pocket
Get Insulin. (n.d.). Get Insulin. Retrieved March 23, 2023, from https://getinsulin.org/
Hayes, T. O. (2020, March 3). Research: Understanding the Insulin Market. AAF. https://www.americanactionforum.org/research/understanding-the-insulin-market/
Novo Nordisk. (2023, March 14). Lowering US list prices of several products. Www.novonordisk.com. https://www.novonordisk.com/news-and-media/latest-news/lowering-us-list-prices-of-several-products-.html
Sanofi. (2023, March 15). Press Release: Sanofi cuts U.S. list price of Lantus®, its most-prescribed insulin, by 78% and caps out-of-pocket Lantus costs at $35 for all patients with commercial insurance - Sanofi. Www.sanofi.com. https://www.sanofi.com/en/media-room/press-releases/2023/2023-03-16-20-06-43-2629188
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