Lilly to cut insulin prices by 70 per cent from fourth quarter

Eli Lilly and Co (LLY.N) said on Wednesday it would reduce prices by 70 per cent for its most commonly prescribed forms of insulin.

The US drugmaker said the reduced prices for its branded insulin injections, Humalog and Humulin, will be effective from the fourth quarter of this year.

Lilly also said it was cutting the price for its non-branded insulin injection Lispro to $25 a vial and will take steps to expand its Insulin Value Program, which caps out-of-pocket costs for patients at $35 or less per month.