How many Virginians could potentially benefit from Eli Lilly's insulin price cap?

by Caitlyn Frolo

Thu, March 2nd 2023, 5:06 PM UTC

This Wednesday, March 1, 2023 photo shows a vial of Eli Lilly's Humalog insulin in New York. Eli Lilly will cut prices for some older insulins later this year and immediately give more patients access to a cap on costs they pay to fill prescriptions. The moves announced March 1, 2023 promise critical relief to some people with diabetes who can face annual costs of more than $1,000 for insulin they need in order to live. Lilly’s changes also come as lawmakers and patient advocates pressure drugmakers to do something about soaring prices. (AP Photo/Pablo Salinas)

WASHINGTON D.C. (WSET) — Financial relief is on the way for millions of Americans with diabetes.

Drugmaker Eli Lilly has chosen to cut some insulin prices, capping out-of-pocket costs at $35.

President Joe Biden has praised the move, using it to highlight the Inflation Reduction Act capping insulin prices for seniors on Medicare last year.

Biden says Eli Lilly's decision could be a game-changer for everyone.

"35 bucks. Guess what that means? Every other company making insulin is going to have to lower their prices to 35 because they can't compete," Biden said.

According to Eli Lilly, out of the nearly eight-point-5 million Americans who use insulin, nearly three million rely on their products.

The following data provided by the White House breaks down how many adults living in each state could experience lower insulin costs as a result of this decision and the Inflation Reduction Act.

Percentage of Adults Aged 18 Years or Older with Diagnosed Diabetes, by Racial or Ethnic Group, United States, 2018-2019

Estimated Number of Adults 18 and Older with Diagnosed Diabetes by State

Here are the numbers for Virginia and the states surrounding the Commonwealth. According to the White House, these estimates are developed from a base that "incorporates the 2020 Census, Vintage 2020 estimates, and (for the U.S. only) 2020 Demographic Analysis estimates."

Virginia

Percentage of Adults 18 or Older With Diagnosed Diabetes: 9.5%
Estimated Number of Adults 18 and Older with Diagnosed Diabetes: 647,587

Maryland

Percentage of Adults 18 or Older With Diagnosed Diabetes: 10.8%
Estimated Number of Adults 18 and Older with Diagnosed Diabetes: 520,352

North Carolina

Percentage of Adults 18 or Older With Diagnosed Diabetes: 11%
Estimated Number of Adults 18 and Older with Diagnosed Diabetes: 924,450

Tennessee

Percentage of Adults 18 or Older With Diagnosed Diabetes: 12.2%
Estimated Number of Adults 18 and Older with Diagnosed Diabetes: 672,611

West Virginia

Percentage of Adults 18 or Older With Diagnosed Diabetes: 13.4%
Estimated Number of Adults 18 and Older with Diagnosed Diabetes: 190,713

Ohio

Percentage of Adults 18 or Older With Diagnosed Diabetes: 10.7%
Estimated Number of Adults 18 and Older with Diagnosed Diabetes: 983,705

Additional information on how many seniors in each state are already benefiting is available here from the Department of Health and Human Services.

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