Insulin Over the years

What’s Shown

In 2022, the price of insulin in the United States was the highest in the world, according to the Rand Corporation. However, a new initiative introduced by the U.S. government has made insulin prices the lowest they’ve been in 18 years.

Key Takeaways

• In 2004, the cost of Eli Lilly’s rapid-acting insulin analog, Humalog, was $56. By 2022, the price had peaked at $275, but it has since dropped to $66.4.
• The Rand Corporation reports that in 2022, the cost of all types of insulin was the highest in the United States among 34 OECD countries.
• The production cost per insulin vial is between $2 and $4.
• The price of Humalog decreased from $275 in 2022 to $66.4 in 2024, marking a 76% decrease.

Looking Forward

By capping out-of-pocket costs and reducing list prices, this initiative not only makes insulin more accessible but also sets a precedent for future reductions in the prices of other medications. This shift could lead to more equitable healthcare, promising a brighter future where essential medications are affordable for many Americans.