Eli Lilly & Co. is cutting the list prices for Humalog and Humulin, its two biggest-selling insulin products by 70%. The price cuts will take effect in the fourth quarter. Lilly also announced that, on May 1, it will lower the list price of an unbranded insulin from $82 a vial to $25.
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Lilly's bold action will have additional consequences of even greater significance – specifically, it’s the first real step towards breaking the chokehold of Pharmacy Benefit Manager (PBMs).