Newswise — WASHINGTON—The Endocrine Society commends Eli Lilly and Company for taking steps to reduce insulin prices and make insulin affordable for more people with diabetes.
Eli Lilly's announcement to cut insulin prices by 70% and extend the $35 per month insulin cap to people with private insurance is a positive step towards making insulin affordable for the more than 7 million Americans that rely on the medication.
“Lilly’s move to apply a $35/month cap for people with private insurance will be a significant improvement for adults and children with diabetes who use Lilly’s products,” said Endocrine Society Chief Medical Officer Robert Lash, M.D. “We encourage all insulin manufacturers to join in the effort to reduce out-of-pocket costs for people who need insulin.”
The Endocrine Society has championed measures to improve insulin access for years. Last year, we were pleased that a $35/month cap on insulin for people with Medicare was included in the Inflation Reduction Act and implemented this January 1. The Endocrine Society continues to call on Congress to pass an insulin price cap for all people with private insurance.
More than 7 million people nationwide rely on insulin to manage their diabetes. According to the U.S. Center for Disease Control and Prevention, 37.3 million people nationwide—about 11 percent of Americans—have diabetes.
While insulin was discovered more than 100 years ago, the price of insulin nearly tripled between 2002 and 2013, and the trend upward has continued over the past decade. In 2021 alone, nearly one in five American adults with diabetes—about 1.3 million people—rationed their insulin to save money, according to a study.
The Society will continue to work to improve insulin access for all who need it.
“Our patients who rely on insulin have waited long enough. The time to act is now,” Lash added.
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Endocrinologists are at the core of solving the most pressing health problems of our time, from diabetes and obesity to infertility, bone health, and hormone-related cancers. The Endocrine Society is the world’s oldest and largest organization of scientists devoted to hormone research and physicians who care for people with hormone-related conditions.
The Society has more than 18,000 members, including scientists, physicians, educators, nurses and students in 122 countries. To learn more about the Society and the field of endocrinology, visit our site at www.endocrine.org. Follow us on Twitter at @TheEndoSociety and @EndoMedia.