logo-loader
viewDyadic International Inc

Eli Lilly and Co unveils cheaper version of popular insulin injection Humalog

Mark Emalfarb, CEO of the biopharmaceutical group Dyadic, calls the move 'a very good first step'

diabetes logo and sugar
The half-priced version of Humalog is called insulin Lispro

Eli Lilly and Co (NYSE:LLY) has unveiled a cheaper generic version of Humalog, its insulin injection, in a bid to cut prices for diabetics.

The half-priced version of Humalog is called insulin Lispro and has the same molecule as the more expensive product, which generates annual sales of $3 billion. It will be available in vial and pen options.

A single vial will cost $137.35 while a five-pack of KwikPens will be $265.20.

“The significant rebates we pay on insulin do not directly benefit all patients. This needs to change,” said David Ricks, Lilly’s CEO. “For people with diabetes, a lower-priced insulin can serve as a bridge that addresses gaps in the system until a more sustainable model is achieved.”

READ: Fitbit shares soar on news of diabetes monitoring feature on its new smartwatch

Humalog can still be purchased via standard insurance plans. But vials and pens of the cheaper insulin have been manufactured and Lilly is now looking to make them available in pharmacies as “quickly as possible.”

Mark Emalfarb, CEO of biopharmaceutical company Dyadic International Inc (OTCMKTS:DYAI), called the move “a very good first step” in what is likely to be a “long and drawn out process of making biologics more accessible and affordable” to patients.

In an email to Proactive, Emalfarb cautioned that cutting profit margins isn’t the “final solution” to “dramatically lowering the cost” of bio-manufacturing expensive biologic drugs.

Eli Lilly shares were flat at $127.26 in afternoon trade Tuesday.

Contact Ellen Kelleher at [email protected]

Quick facts: Dyadic International Inc

Price: 5.96 USD

NASDAQ:DYAI
Market: NASDAQ
Market Cap: $162.62 m
Follow

Add related topics to MyProactive

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

In exchange for publishing services rendered by the Company on behalf of Dyadic International Inc named herein, including the promotion by the Company of Dyadic International Inc in any Content on the Site, the...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Dyadic working with global research partners to express potential...

Dyadic International Inc (NASDAQ:DYAI) CEO Mark Emalfarb tells Proactive the Florida-based biotech is 'delivering on its promises.' Emalfarb says it saw a busy first quarter where the company stepped up in the global fight against the coronavirus pandemic. Emalfarb says among its recent...

1 week, 5 days ago

2 min read