Pharmaceutical company Eli Lilly plans to start selling a generic version of its Humalog insulin that will cost half the list price of the name brand.
Called Insulin Lispro, it’s an authorized generic identical to Humalong.
The announcement was made Monday in a blog post by Eli Lilly Chairman Dave Ricks.
The move is good news for diabetic consumers who have been hit hard recently by price hikes for insulin.
Ricks says the new generic insulin will “immediately [provide] a more affordable option for certain Americans in high-deductible health insurance plans, the uninsured and seniors that hit the coverage gap in their Medicare Part D plans.”
Ricks is also critical of the way modern health insurance programs work, noting roughly half of Americans with private health insurers are in high-deductible plans, dramatically more than a few years ago.
As a result, he says, more Americans are paying more at the pharmacy counter for medications than in the past.
“The result is that people with chronic diseases like diabetes subsidize insurance for everyone else,” Ricks writes. “This has to change.”
You can read Ricks’ full blog post here.
You can also read more details about the lower-priced insulin here.