Drugmaker caps cost of insulin at $35: ‘It’s glorious news’

TAMPA, Fla. - Eli Lilly announced a 70% price reduction for its most commonly prescribed insulin, capping the cost for patients at $35.

"It’s glorious news because they’re making insulin affordable again. You don’t have to sell your house. You don’t have to be depressed. You don’t have to be anxious. People who need this life-saving miracle drug which is insulin, are going to be able to afford it, to have it," explained Ercilia Colón, who has two sons with type 1 diabetes.

Some diabetics compare the cost of insulin and other medications they need for diabetes with paying a mortgage.

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"It’s just ridiculous," said Dillon Kramer, who has type-2 diabetes but is dependent on insulin. "Something needs to be done and I really hope that other companies follow."

File image of insulin bottles. 

Eli Lilly’s cost cap announcement is a huge relief for diabetics. Many will no longer have to make tough decisions just so they can afford this crucial medication.

"Some patients with diabetes withhold insulin or have withheld insulin in the past, and in many cases, it’s do they pay for their insulin, do they pay for their rent, do they pay for food," said Dr. Henry Rodriguez, the clinical director of the Diabetes and Endocrinology Center at the University of South Florida. "This is life-saving therapy and the fact that it is now far more affordable to our patients is life-changing."

Thirty-seven million Americans have diabetes. In 2021, one million patients rationed their insulin because of the price.