Lilly Plans To Slash Some Insulin Prices, Expand Cost Cap

(AP) – Eli Lilly will cut prices for some older insulins later this year and immediately give more patients access to a cap on the costs they pay to fill prescriptions.

The moves promise critical relief to some people with diabetes who can face annual costs of more than $1,000 for insulin.

Lilly’s changes also come as lawmakers pressure drugmakers to do something about soaring prices.

Lilly said it will cut the list price for its most commonly prescribed insulin, Humalog, and for another insulin, Humulin, by 70% or more in the fourth quarter.

The drugmaker didn’t detail the new prices.