Lilly to sell cheaper version of top-selling insulin Humalog
Eli Lilly is offering a half-price version of its top-selling insulin Humalog as drugmakers face growing pressure to control prices.
The drugmaker 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. 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.
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.