Eli Lilly, a pharmaceutical giant known for their rapid-acting insulin, Humalog, has officially decided to release a generic version of insulin that will be nearly half the price of its name-brand product.
Not long before this announcement, many pharmaceutical leaders were gathered in order to discuss the issue concerning confusingly high drug prices. One of the main targets of this debate was the increase in pricing for insulin, in which people who have diabetes have been drastically rationing due to their inability to afford what they need to survive.
Humalog, one of the nation’s more expensive insulin options, has had a big increase in their cost over the years. Senator Ron Wyden states, “The list price of Eli Lilly’s main insulin drug, Humalog, went from $21 a vial in 1996 to its current list price of $275.” He then continues to question these actions by stating that, “Humalog isn’t thirteen times as effective as it used to be… A vial doesn’t last thirteen times longer than it did in 1996.”.