The largest domestic manufacturer of insulin, Indiana-based Eli Lilly, announced a 70% price reduction on its widely distributed insulin products that millions of Americans depend on to manage diabetes. The long-overdue action came after President Biden announced his intention the week before to expand a new $35/month insulin cap for people in Medicare to cover everyone in America.
Patients have railed against high insulin prices for years, forcing legislative action in over 20 states and building momentum for national reform that has resulted in 4 million Americans in Medicare getting more affordable insulin under the Inflation Reduction Act which passed at the end of last year.
Earlier in 2022, patient advocates from TI International once again took to the streets outside Lilly’s headquarters to demand action and advocates from Lower Drug Prices Now, an HCAN partner, spent years highlighting prescription drug price gouging.