INDIANAPOLIS, Ind. (CBSDFW.COM/AP) – Eli Lilly is now offering a half-price version of its top-selling insulin Humalog as drugmakers face criticism about out of control prescription drug prices.
The company says it will introduce a version of the diabetes treatment called Insulin Lispro with a list price 50-percent lower than its current rate, about $275 per vial.READ MORE: Appeals Court Ruling Keeps Abortion Ban In Place In Texas
List prices are initial figures drugmakers attach to a product and are typically knocked down by rebates.
Lilly Chairman and CEO David Ricks said in a statement Monday that the company pays “significant” rebates off the list price, but those discounts do not directly benefit all patients.READ MORE: Amtrak Train From Fort Worth Crashes In Oklahoma, Four Hurt
The cost of insulin for Type 1 diabetics has almost doubled over a five-year period. The result has lead some diabetics to cut back on usage. More than one-quarter of people with diabetes who participated in a study last year said theyon the drug because of its rising cost.
U.S. senators grilled the leaders of several major companies last week in a hearing about drug prices.
Humalog brought in $1.8 billion in U.S. sales last year for Indianapolis-based Eli Lilly and Co.MORE NEWS: Critical Race Theory Law Could Be Behind Latest Southlake Racism Controversy
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