House passes bill to cap out-of-pocket insulin costs
NBCDec 23, 2021
The Facts
US drug manufacturer Eli Lilly announced Wednesday that it will slash prices for some of its older insulin products later this year and immediately expand a cap on costs that insured patients — who currently face annual costs of more than $1K — pay to fill prescriptions.
The company said it will cut the price of its two insulin products, Humalog and Humulin, each by 70% as well as cap the cost of commercially-insured and uninsured patients’ out-of-pocket costs at $35 per month.
The Spin
Left narrative
As Democrat-run California pushes for its own insulin price cap law and Biden calls on companies to do their part in making healthcare affordable, Eli Lilly has heeded the government's calling. As one of the largest insulin manufacturers in the world, this move could be the beginning of a genuinely transformational collaboration between the government and the private sector to ensure that diabetics get the affordable care they require and deserve.
Right narrative
The cost of insulin is not a left-right issue, but rather a race to see who can claim responsibility for finally lowering the life-saving drug's price. Donald Trump signed an executive order that did the same thing as Biden's Medicare price cap legislation, but Biden suspended it once he took office. Republican Sen. Josh Hawley, too, called for a federal cap of $25 — 10 dollars lower than what Democrats are calling for. This is not a partisan win for Democrats because both sides want their constituents to have affordable medicine.
