TALLAHASSEE, FL (WTXL) — Eli Lilly, one of the leading manufacturers of insulin, announced they are slashing the price of their most commonly prescribed insulin, by 70 percent. The company is capping the out-of-pocket price for insured patients at $35.
Tallahassee resident Kris Abel’s husband has diabetes. She said the high price of insulin has been a burden for her family.
Abel said Eli Lilly's price cut gives her some relief.
"It's an amazing, wonderful thing because my husband,” Abel said. “He's a diabetic, type 2, and we've had to switch insurances to actually pay for his insulin now."
The price cut is sure to impact people in the Big Bend and South Georgia.
More than 2 million adult Floridians have been diagnosed with diabetes. Over 500,000 don't know they have it. Georgia is home to over one million people with diagnosed diabetes as well.
Dr. Temple Robinson with the Bond Community Health Center in Tallahassee said the price cut will help locals take care of other areas of their health.
"Any time you can decrease the cost of a medication that you are going to be taking probably for the rest of your life, then you can improve other things in the family such as nutrition and what you're buying from the grocery store," Robinson said.
Something that people like Abel have had to budget to be able to afford insulin in the past.
"We've actually had to cut back on some things,” Abel said. “I've actually pursued and gotten a new job so that we could afford to continue to have him medicated."
But now, Abel said this price cut will help many like her across the country.
Even though this price cut doesn't go into effect until later this year, there are still ways you can save money on insulin. You can buy from retail stores that offer insulin over the counter and use online retailers that compare prices of drugs.