ATLANTA — There’s some huge news for the millions of Americans with diabetes.
Drugmaker Eli Lilly is officially capping the price of insulin to $35 a month.
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This is a huge relief for millions of people who are struggling to afford life-saving medication.
“Everything seemed to be another roadblock,” Lacy McGee said.
For years, Mcgee didn’t have insurance, and couldn’t afford her insulin. It’s a story that got Sen. Raphael Warnock’s attention.
“Literally was rationing her insulin, meeting people in dim parking lots to get drugs she absolutely needs to stay alive,” Warnock said.
Less than a month after Mcgee traveled from Atlanta to Washington to fight for a price cap, Eli Lilly is taking matters into their own hands.
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“We think that should be the new standard in America. And, while we could wait for Congress to act or the health care system in general to apply that standard, we’re just applying it ourselves,” Dave Ricks said.
Out-of-pocket costs will be capped at $35.
Last week, President Biden accused pharmaceutical companies of inflating drug prices.
“The cost to make that drug and package it is making $10 and packaging $13, but you’ve been paying $300, $400, or $500 a month for that,” Biden said.
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Warnock celebrated the decision, saying “Capping insulin costs is about more than people’s pocketbooks, it’s about saving lives.”
He also said he will keep working on making the insulin cap a federal law.
Channel 2 Action News looked at the price of Humalog, the insulin brand getting the price cut. The price can go up to $323 a vial.
Many people need three vials a month and without insurance, that’s nearly $1,000 every month. Even if you have insurance, some people can pay hundreds out of pocket every month.
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