Last updated on July 18th, 2023 at 02:02 pm
After Eli Lilly announced that they are capping patient out-of-pocket insulin costs at $35. President Biden urged other insulin manufacturers to follow.
The President said in a statement provided to PoliticusUSA:
Today, Eli Lilly, the largest manufacturer of insulin in the United States, announced that they are lowering their prices, capping what patients pay out of pocket for the drug maker’s insulin products at $35. For far too long, American families have been crushed by drug costs many times higher than what people in other countries are charged for the same prescriptions. Insulin costs less than $10 to make, but Americans are sometimes forced to pay over $300 for it. It’s flat wrong.
Last year, I signed a law to cap insulin at $35 for seniors and I called on pharma companies to bring prices down for everyone on their own. Today, Eli Lilly did that.
It’s a big deal, and it’s time for other manufacturers to follow.
The big news that Eli Lilly announced is that the $35 out-of-pocket cap will apply to both those who have and don’t have insurance. An uninsured person will need to fill out a form to get the reduced insulin, but all American diabetics, who use Eli Lilly insulin, like me, will see their out-of-pocket cost capped at $35.
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The expansion of the out-of-pocket price cap may not have happened without Congressional Democrats and President Biden capping the price of insulin for Medicare patients.
The Biden agenda is working and having a president who wants to help people is starting to change the culture and deliver real change beyond legislative accomplishments.
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Member of the Society of Professional Journalists and The American Political Science Association
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