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23 May 2019

Case Study – A close look into Eli Lilly’s pricing strategy for Insulin Lispro injection in US market

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Eli Lilly and Company’s has announced that its Insulin Lispro Injection is now available for order in pharmacies for people who use Lilly’s rapid-acting insulin and need a lower-cost option. Lilly’s Insulin Lispro Injection has a 50 per cent lower list price than its identical medicine, Humalog U-100 (insulin lispro injection) and is available in both a vial and KwikPen. Because they are the same insulin, pharmacists will be able to substitute Insulin Lispro Injection for Humalog.

The authorized generic insulin lispro is meant to reduce insulin costs by 50% for customers who opt to switch from Humalog U-100 (Lilly) even though the two are the same insulin.

Authorized generics are prescription drugs produced by brand pharmaceutical companies and marketed under a private label, at generic prices. Authorized generics compete with generic products in that they are identical to their brand counterpart in both active and inactive ingredients.

In March, Lilly announced plans to introduce Insulin Lispro Injection, which fills another gap in the healthcare system. The people who are most likely to benefit from Insulin Lispro Injection are Medicare Part D beneficiaries, people with high-deductible health plans and the uninsured who use Humalog.

Currently, about 95 per cent of people in the US pay $95 or less a month for their Humalog prescription and 43 per cent pay $0 at the retail pharmacy. With the launch of Insulin Lispro Injection, even more people will pay lower amounts at the pharmacy. Because most insurance plans provide affordable copays for chronic medicines that are much lower than list price, people should ask their pharmacist whether Insulin Lispro Injection or Humalog is the lower-cost option for them.

Insulin Lispro Injection has a list price of $137.35 per vial and $265.20 for a package of five KwikPens. In addition to wholesaler contracts that have been secured, Lilly is working with payers to gain broad insurance coverage for Insulin Lispro Injection.

Humalog and Insulin Lispro Injection are used to treat people with diabetes for the control of high blood sugar.

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