According to recent data from GoodRX, an app tracking drug prices, only 3% of insurance claims for Eli Lilly’s insulin were for the half-price version that the company revealed shortly before being questioned by Congress on soaring insulin prices.
According to the article, many pharmacists do not know that a cheaper version is available or it cannot be accessed because it wasn’t added to individual patient’s list of drugs that are covered.
The company said it was aggressively working to increase awareness as well as access to the cheaper diabetes drug.
Analysis and Comments
Best Healthcare analysts expect a strong downward pricing pressure and slowing volume growth for the previous classes of drugs such as DPP4 and basal insulins.
This will likely result in a slowdown in the sales growth for the global pharmaceutical market. We project the global diabetes pharma market to grow at only 3% CAGR to reach $46bn by 2025.
While the overall diabetes pharma market is set to slow, GLP1 and SGLT4 are likely to experience rapid growth.