Eli Lilly, the pharmaceutical giant, announced on Wednesday that it would cap the cost of insulin at $35 per month, making it easier for millions of Americans with diabetes to access the lifesaving drug. The move came after a TikTok user parodied the company and claimed that the company was lowering insulin prices. The parody video went viral on social media, forcing the pharmaceutical company to do some damage control and reduce the price of insulin.
The high cost of insulin has long been a point of contention in the United States, with many people struggling to afford the medication they need to stay alive. According to the American Diabetes Association, the average cost of insulin in the US has tripled over the past decade, leading to rationing and even deaths among those who cannot afford it.
Eli Lilly’s announcement is a breakthrough for those who need insulin to manage their diabetes. The company said that it would lower the prices of its most frequently used insulins by 70%. In addition, it would expand a program to cap out-of-pocket costs at $35 per month for eligible patients with commercial insurance. The price reduction will take effect on January 1, 2024.
But while Eli Lilly should be commended for making this move, it would be remiss not to acknowledge the TikTok user who brought attention to the issue. The user, whose parody video went viral, can take some credit for forcing the pharmaceutical company to take action.
The fact is that public pressure works. Eli Lilly’s decision to reduce the price of insulin is evidence that companies can be held accountable for the exorbitant prices they charge for lifesaving medications. It’s a reminder that we have the power to create change by speaking out and advocating for ourselves and others.
In conclusion, Eli Lilly’s decision to lower the price of insulin to $35 per month is a win for millions of Americans living with diabetes. It’s a move that will save lives and reduce the financial burden on those who need insulin to survive. And while Eli Lilly deserves credit for making this important change, we should also acknowledge the power of public pressure and the role that individuals can play in holding companies accountable for their actions.