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Biden proposes subsidizing drug middlemen for insulin

World of DTC Marketing

The House is preparing to vote on a $35 monthly insulin cap later, but there is stern opposition to the plan, which could cost billions over ten years. With the money it costs us, the Government could encourage a private company to build a manufacturing facility for insulin while offering tax incentives. Los Angeles Times.

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Eli Lilly places price cap of $35 on out-of-pocket insulin cost

Pharmaceutical Technology

Eli Lilly has announced that it will reduce the price of its most commonly used insulin, Humalog, in the US, by 70% and cap the out-of-pocket cost for those on commercial insurance at $35. This is the second time Lilly has significantly reduced the cost of its insulin, as in 2019 the company reduced the list price of Humalog by 50%.

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California sues insulin producers and PBMs over pricing

pharmaphorum

The ‘big three’ insulin producers Novo Nordisk, Eli Lilly, and Sanofi are being sued by the state of California for allegedly working together to set artificially inflated prices for their products. The suit follows legal action over insulin pricing taken by other states, including Arkansas , Kansas, Mississippi, and Minnesota.

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STAT+: Pharmalittle: Big PBM keeps AbbVie’s Humira on formulary; Lilly CEO says fake tweet means there’s more to do on insulin costs

STAT News

… UnitedHealth Group’s pharmacy benefits manager, OptumRx, will keep AbbVie’s Humira alongside up to three biosimilar medicines next year, Bloomberg News writes. The decision is a partial win for AbbVie, since its rheumatoid arthritis treatment has generated almost $200 billion in sales in nearly two decades.

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California’s low-cost insulin plans receive $100m manufacturing boost

Pharmaceutical Technology

Insulin prices made the headlines again as California governor Gavin Newsom announced plans on 7 July for the state to manufacture low-cost insulin. The state plans to work directly with a contract manufacturing organization (CMO) to manufacture low-cost insulin. In-house manufacturing the norm.

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The Warped Incentives Behind Amgen’s Humira Biosimilar Pricing–And What We Can Learn from Semglee and Repatha (rerun)

Drug Channels

This week, I’m rerunning some popular posts while I prepare for tomorrow’s live video webinar: Discount Cards, Cost-Plus Pharmacies, and PBMs: Trends, Controversies, and Outlook. Humira sales would be decline by about 37% in 2023—which is at the lower end of its previous erosion projection of 35% to 55%.

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The US biosimilar market: Predictions for 2021

pharmaphorum

One of these markets is the insulin market. Up until now, the insulin market has experienced little competition and, as a result, prices have soared over the years. Currently, more than seven million patients rely on insulin, and that number is growing each year. But, that will soon be changing, due to biosimilars.

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