INDIANAPOLIS, May 26, 2020 /PRNewswire/ -- President
Donald J. Trump and Seema Verma, Administrator for the Centers for
Medicare & Medicaid Services, today announced details of the
new Part D Senior Savings Model that will allow people in the
Medicare Part D program to buy their monthly prescription of
insulin for no more than $35 starting
January 1, 2021. David A. Ricks, Eli Lilly and Company (NYSE:
LLY) Chairman and CEO, attended the announcement at the White
House. Below is his statement about the Part D Senior Savings
Model:
"Lilly is very pleased to
participate in this important model that will make insulin more
affordable for seniors in the U.S. We've been working on insulin
affordability solutions for many years, and this model fills a
critical gap that remained in the system.
This important opportunity for
seniors could not happen without the relentless commitment of the
many people involved. I want to thank President Trump, Vice
President Pence, Secretary Azar, Administrator Verma and others in
the Administration for their collective commitment, as well as the
Part D plan sponsors, my industry colleagues, and everyone else
involved in this new model who care about the millions of Americans
living with diabetes.
Once this program begins in 2021,
people using most Lilly insulins – regardless of whether they are
enrolled in Medicare Part D, a private commercial plan, or are
uninsured – will be eligible to purchase their monthly prescription
for a little more than a dollar a day, or $35 a month, from a retail pharmacy. This new
Part D Senior Savings Model is a natural fit with our other
programs that can be found through the Lilly Diabetes Solution
Center. Earlier this year, we launched the Lilly Insulin Value
Program, which allows anyone with private commercial insurance, or
no insurance at all, to buy their monthly prescription of insulin
for $35 at a retail pharmacy. We are
now able to provide the same opportunity for seniors who enroll in
participating Medicare Part D plans. So if you use a Lilly insulin
and need support, we urge you to consider the solutions now offered
that can make your medicine more affordable."
Through this new model, seniors in participating Medicare Part D
insurance plans will see out-of-pocket costs for covered Lilly
insulins reduced to no more than $35
per 30-day supply during their deductible phase, during initial
coverage and while in the coverage gap. Seniors who take insulin
and enroll in a plan participating in the Model are expected to
save an average of $446 in annual
out-of-pocket costs for insulin, with premiums increasing less than
$1 per month. This means that the
insurance plan chosen by seniors will become even more important
during open enrollment for 2021, as it will dictate the
out-of-pocket costs a person taking insulin may face.
People with questions about the Lilly Insulin Value Program and
other solutions offered on Lilly insulins can dial the Lilly
Diabetes Solution Center at (833) 808-1234. The Solution Center is
open 8 am to 8 pm EST Monday through
Friday.
Terms and Conditions
Terms, conditions, and
limitations apply to the co-pay cards that can be accessed through
the Lilly Diabetes Solution Center. Not available to those patients
with government insurance such as Medicaid, Medicare, Medicare Part
D, TRICARE®/CHAMPUS, Medigap, DoD, or any State Patient or
Pharmaceutical Assistance Program.
About Diabetes
Approximately 34 million
Americans1 (just over 1 in 10) and an estimated 463
million adults worldwide2 have diabetes. Type 2 diabetes
is the most common type internationally, accounting for an
estimated 90 to 95 percent of all diabetes cases in the United States alone1. Diabetes
is a chronic disease that occurs when the body does not properly
produce or use the hormone insulin.
About Lilly Diabetes
Lilly has been a global leader in
diabetes care since 1923, when we introduced the world's first
commercial insulin. Today we are building upon this heritage by
working to meet the diverse needs of people with diabetes and those
who care for them. Through research, collaboration and quality
manufacturing we strive to make life better for people affected by
diabetes and related conditions. We work to deliver breakthrough
outcomes through innovative solutions—from medicines and
technologies to support programs and more. For the latest updates,
visit http://www.lillydiabetes.com/or follow us on Twitter:
@LillyDiabetes and Facebook: LillyDiabetesUS.
About Eli Lilly and Company
Lilly is a global
health care leader that unites caring with discovery to create
medicines that make life better for people around the world. We
were founded more than a century ago by a man committed to creating
high-quality medicines that meet real needs, and today we remain
true to that mission in all our work. Across the globe, Lilly
employees work to discover and bring life-changing medicines to
those who need them, improve the understanding and management of
disease, and give back to communities through philanthropy and
volunteerism. To learn more about Lilly, please visit us at
lilly.com. P-LLY
This press release contains forward-looking statements (as
that term is defined in the Private Securities Litigation Reform
Act of 1995) about Lilly insulins, and the costs of these
medicines, and reflects Lilly's current belief. For further
discussion of these and other risks and uncertainties, see Lilly's
most recent Form 10-K and Form 10-Q filings with the United States
Securities and Exchange Commission. Except as required by law,
Lilly undertakes no duty to update forward-looking statements to
reflect events after the date of this release.
References
Centers for Disease Control and Prevention. National Diabetes
Statistics Report, 2020. Atlanta,
GA: Centers for Disease Control and Prevention, U.S. Dept.
of Health and Human Services; 2020.
International Diabetes Federation. IDF Diabetes Atlas, 9th edn.
Brussels, Belgium: International
Diabetes Federation, 2019. Available at:
http://diabetesatlas.org.
Refer
to:
|
Greg Kueterman;
kueterman_gregory_andrew@lilly.com; +1 (317) 432-5195
(Media)
|
|
Molly McCully;
mccully_molly@lilly.com; +1 (317) 478-5423
|
|
Kevin Hern;
hern_kevin_r@lilly.com; +1 (317) 277-1838
|
|
(Investors)
|
View original content to download
multimedia:http://www.prnewswire.com/news-releases/statement-from-lilly-chairman-and-ceo-dave-ricks-on-new-part-d-senior-savings-model-301065595.html
SOURCE Eli Lilly and Company