Washington, D.C. – U.S. Senators Jeanne Shaheen (D-NH) and Susan Collins (R-ME), co-chairs of the Senate Diabetes Caucus, issued the following statement in response to drugmaker Eli Lilly and Company (Lilly)’s announcement that it will cut the list prices for its commonly prescribed insulin medication by 70% and take additional steps to bolster affordability for diabetes patients. The company stated the 70% price cuts will take effect in the fourth quarter for Humalog and Humulin, its two leading insulin medications. Shaheen and Collins have long led action in the U.S. Senate to reduce insulin prices and spearhead the bipartisan INSULIN Act, their bipartisan bill to comprehensively cut costs of the lifesaving drug.
“We commend Lilly for taking a step forward today to address the skyrocketing costs of insulin and urge other manufacturers to follow their lead. Millions of Americans’ lives depend on access to insulin and if costs continue to be barriers to care, people’s lives will be on the line. Today, too many people ration their insulin because they cannot afford the soaring prices. That’s unacceptable. The American people deserve better, which is why we’re continuing to lead bipartisan legislation to address the full scope of this issue,” said Senators Shaheen and Collins. “As we revise our bipartisan bill and prepare to introduce it in the U.S. Senate, we urge lawmakers on both sides of the aisle to work with us so we can finally deliver financial relief to families and the peace of mind they deserve that their loved ones will be able to access the medicine they need.”
More than 37 million Americans have diabetes, and an estimated 88 million more may be at risk of developing the disease.