Morning Briefing
Summaries of health policy coverage from major news organizations
Eli Lilly Slashes Price Of Generic Insulin By 40%
FiercePharma: Amid New Pricing Pressure, Lilly Cuts Cost Of Generic Insulin By Another 40%
With drugmakers facing renewed calls to lower the cost of prescription drugs, Eli Lilly has taken preemptive action, dropping the cost of its generic insulin by 40%. Starting next year, Lilly’s list price for Lispro Injection will be $82.42 for an individual vial and $159.12 for a five-pack of pens. The move prices Lispro 70% less than its branded counterpart, Humalog U-100, and returns the cost of insulin to 2008 levels, the company said. (Dunleavy, 9/28)
Reuters: Lilly To Cut Price Of Lispro Insulin Injection By 40% From Jan. 1
Eli Lilly and Co (LLY.N) will lower the list price of its Insulin Lispro Injection in the United States by 40% from Jan. 1, the drugmaker said on Tuesday. The new list price will be 70% less than the Lispro injection's Humalog U-100 counterparts, Lilly said, reducing costs for those without insurance coverage and those that have not joined the company's affordability programs. (9/28)
Stat: Lilly Cuts Wholesale Price On Some Insulin, But Impact Is Likely To Be Limited
Eli Lilly (LLY) announced plans to lower the wholesale price of certain insulin products by an additional 40% in January 2022, the latest bid by a drug maker to combat criticism that the cost of these life-saving diabetes treatments are out of reach for too many patients. The move involves dropping the price of Insulin Lispro Injection in the U.S. to $82.41 for individual vials and $159.12 for a pack of five pens, which the company maintained will be 70% of the cost of Humalog U-100, a brand-name version of the product. The new wholesale price, which will lower the wholesale price for the product, will apply to all so-called authorized generic versions of Humalog that Lilly sells. (Silverman, 9/28)
Also —
Stat: Inflation And Rebates Tied To Drop In Wholesale Prices On Medicines
Amid continued political pressure on the pharmaceutical industry, a new analysis finds brand-name drug makers increased their wholesale prices by 4.4% in the second quarter of 2021. But when accounting for inflation, wholesale prices fell by 0.4%, compared with 3.6% in real price growth a year earlier. Meanwhile, after subtracting allowances such as rebates and discounts, net prices that health plans paid for medicines dropped by 1.4%, compared with a 1.8% decline in last year’s second quarter, according to SSR Health, a research firm that tracks the pharmaceutical industry. Drug makers, by the way, argue that net prices — not wholesale prices — are a more realistic way to gauge changes in pricing. (Silverman, 9/27)
Modern Healthcare: Coalition Seeks More Transparent Pharmacy Benefits Managers
Several national organizations have established the Coalition for PBM Reform, which seeks to alter the way pharmacy benefit managers operate to better serve patients, pharmacies and businesses. The group stems from a common concern among patient advocates, doctors, pharmacies and small business groups that spread pricing, patient steering, and other PBM practices restrict access to drugs and increase costs, said Douglas Hoey, CEO of the National Community Pharmacists Association, one of the participating groups. (Devereaux, 9/27)
Fierce Healthcare: GoodRx Launches Health Information Site With The Aim Of Being A Go-To Medical Resource
Drug discount app GoodRx is expanding into health content to provide answers to the most Googled questions about personal health. The company launched GoodRx Health as an online health resource that provides research-based, accessible health information on common health topics like diabetes and heart disease, according to GoodRx executives. (Landi, 9/27)
