Nation’s Top 3 Insulin Manufacturers Promise Price Cuts

On March 1, Eli Lilly announced cuts to insulin list prices and providing an automatic cap on “out-of-pocket costs at $35 at participating retail pharmacies for people with commercial insurance using Lilly insulin.”  These changes take effect at various points in 2023 for the few insulin products they manufacture (April 1, May 1, and Q4 2023).

A couple of weeks later, Novo Nordisk and Sanofi announced similar cuts to their insulin list prices effective January 1, 2024.

These three insulin manufacturers make about 90% of the U.S. supply of insulin.  These announcements follow the Inflation Reduction Act putting a Medicare cap on insulin of $35 per month and President Biden urging insulin manufacturers to apply similar pricing in the commercial insurance market.

This is primarily being paid for by drastically reducing insulin rebates these manufacturers must pay to Medicaid.


While every effort has been taken in compiling this information to ensure that its contents are totally accurate, neither the publisher nor the author can accept liability for any inaccuracies or changed circumstances of any information herein or for the consequences of any reliance placed upon it. This publication is distributed on the understanding that the publisher is not engaged in rendering legal, accounting or other professional advice or services. Readers should always seek professional advice before entering into any commitments.

About Michelle Cammayo

Michelle Cammayo has more than 13 years of Employee Benefits experience specializing in all lines of health and welfare benefits. Today, Michelle works closely with clients and partners to provide guidance in areas of the law including ERISA, HIPAA, COBRA, FMLA and PPACA. She also oversees the Compliance Department at Bolton & Company to ensure we are helping our clients manage and eliminate risk with regards to employee benefit compliance.

Subscribe to the Bolton Blog