Eli Lilly Offers Discount for Insulin
December 13 2016 - 9:00AM
Dow Jones News
Eli Lilly & Co., a major manufacturer of insulin, said it
would discount the injectable drug by as much as 40% amid soaring
prices for the treatment.
The move, which will benefit those who pay the highest of
out-of-pocket costs for the lifesaving treatment, comes amid
increasing public backlash over rising drug prices.
The company said the discounts, provided by Lilly through a
partnership with Express Scripts Holding Co., aim to reduce costs
for people who pay full retail prices at the pharmacy. The program
is targeting individuals without health insurance or who are in the
deductible-paying phase of high-deductible insurance plans.
The discounts start Jan. 1 and are available through mobile and
web platforms hosted by Blink Health, a New York startup that
promises consumers lower prices for generic prescription drugs.
Lilly said it crafted the program after meeting with "leaders in
the diabetes community" as well as people who have diabetes about
the rising price of insulin.
The major manufacturers of insulin—Eli Lilly of Indianapolis,
Novo Nordisk A/S of Denmark and Sanofi SA of France—are collecting
about the same or less than they did several years ago. The price
increases—top-selling insulins have more than doubled in price
since 2011—reflect the growing role of middlemen known as
pharmacy-benefit managers who negotiate rebates and fees based on
list prices.
This encourages high list prices and steep behind-the-scenes
discounts, leading to some bill payers receiving lower overall
costs while uninsured patients and those with certain health plans
pay more.
This convoluted payment system for drugs in the U.S. is becoming
a regular source of public outrage, most recently with Mylan NV's
EpiPen, an emergency allergy treatment. Insulin, like EpiPen, is
used by millions of Americans.
Write to Joshua Jamerson at joshua.jamerson@wsj.com
(END) Dow Jones Newswires
December 13, 2016 08:45 ET (13:45 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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