Eli Lilly plans to introduce a lower-priced product in the United States.

Less than two weeks after the Senate Finance Committee investigated big pharma companies about drug pricing policies, Eli Lilly has announced plans to introduce a lower-priced product in the United States. In fact, the committee requested that Eli Lilly provide information about its insulin pricing before March 8. 

The discounted version of Lilly’s Humalog (insulin lispro injection 100 units/mL) will be called Insulin Lispro and will be available in vial and pen options at list prices 50% lower than the current Humalog prices ($137.35 for a single vial and $265.20 for a five-pack of KwikPens). The authorized generic product will be made available through the Lilly subsidiary ImClone Systems. 

Introducing an alternative insulin option allows Lilly to provide lower-priced insulin more quickly while providing payers time to renegotiate downstream contracts and adjust to new system economics, according to the company. Lilly also indicated that, after exploring the logistics and feasibility of an authorized generic, it began preparing manufacturing, labeling and shipping plans in 2018 for the possibility of introducing Insulin Lispro.