Pharmacist relieved drugmaker cancels plans to raise price of insulin
A Bell Island pharmacist is happy to see one big drugmaker has cancelled plans to increase the cost of its insulin products amid the COVID-19 pandemic.
Kara O'Keefe, a pharmacist at Family Drug Mart, tweeted a fax sent to all retail pharmacies from drugmaker Eli Lilly on Tuesday.
The company told pharmacists it was increasing costs as of April 1. A day later, however, Eli Lilly backed down from the increase, which it said had been planned since December.
"We have been heard," O'Keefe said. "I think it's excellent to see a company whose medications [impact] a large portion of our province's population listening to frontline health care providers, and taking that feedback, and using it for patients' benefit," she said.
The letter stated insulin products such as Bassaglar, Humulin and Humalog would be going up in price by about $2 a box. O'Keefe said the increase would add up, since some of her patients use up to 10 boxes of insulin over a three month period.
'Big deal for patients'
O'Keefe said diabetes is an expensive disease to manage and the burden is highest on people without insurance, who pay for their medication out of pocket.
She was worried about how the increase would affect her patients, so she contacted the company asking why they were increasing prices.
In a statement, Eli Lilly said it was backing down after reassessing the decision.
"We recognize that circumstances have changed," the statement said.
"We are now working to communicate our changed decision, along with details of credits for anyone who paid the higher prices, with pharmacists, all provincial drug plans, wholesalers and distributors."
People in Newfoundland and Labrador have some of the highest rates of diabetes in the country year after year.
"This is a big deal for patients here in the province," O'Keefe said.
She said many other pharmacists wrote the company about the increases and she's relieved the company listened.
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