A settlement between Eli Lilly and purchasers of its insulin drugs that would have capped prices and provided $13.5 million to resolve claims that the company inflated the drugs’ cost has fallen apart, after an unfavorable ruling from the judge overseeing the case.
Tag Archive for: Humalog
Nine U.S. states are objecting to a proposed $13.5 million settlement between Eli Lilly and a class of insulin buyers over claims that it inflated the drug’s price, saying the drugmaker is wrongly trying to use the deal to shield itself from future lawsuits by states.
Americans without health insurance pay an average of $98 for Eli Lilly’s generic insulin despite the company’s May 1 pledge to cut its list price to $25 per vial, according to a survey of more than 300 U.S. pharmacies by U.S. Senator Elizabeth Warren’s office released on Thursday.
Wednesday, Sen. Bernie Sanders (I-VT), chairman of the Senate’s Health, Education, Labor and Pensions Committee, sent a letter to Sanofi and Novo Nordisk urging them to lower insulin prices.
Eli Lilly and Co. will cut list prices by 70% for its most commonly prescribed forms of insulin, Humalog and Humulin, beginning from the fourth quarter of this year, the drugmaker said on Wednesday.
For all its forays elsewhere, diabetes remains the bedrock of Lilly’s business – and, if the Mounjaro launch goes as hoped, will continue to be so for a long time to come.