Major Drugmaker to Cut Insulin Prices for Americans

An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive, in Branchburg, N.J., on Mar. 5, 2021. Mike Segar/Reuters

Eli Lilly and Co. announced on Wednesday that prices for the company’s most commonly prescribed insulins will be reduced by up to 70 percent later this year, a move praised by President Joe Biden, who urged other drugmakers to follow.

In a statement published on Mar. 1, the largest U.S. manufacturer of insulin said that it will cut the list price of its non-branded insulin to $25 a vial starting in May, making it “the lowest list-priced mealtime insulin available.”