how much does it cost eli lilly to make insulin
The cost of insulin for people with diabetes has become a major health care issue in recent years. As the price of insulin continues to rise, many people are struggling to afford the life-saving medication. But how much does it actually cost to make insulin?
In 2019, Eli Lilly, one of the leading insulin manufacturers, revealed that it costs around $14.60 to make a single vial of Humalog, one of its popular insulin products. This cost includes the manufacturing, packaging and shipping of the drug.
However, this is just the cost of producing the insulin. It doesn’t include the cost of research and development, marketing, and other associated costs. These costs can add up to hundreds of millions of dollars for a single drug.
For example, Eli Lilly spent $1.4 billion on research and development for Humalog alone. This cost was spread out over a 10-year period and includes the cost of clinical trials, regulatory approval, and other associated costs.
The cost of insulin can also be affected by the cost of raw materials. Insulin is made from proteins, which can be expensive to produce. The cost of these proteins can vary depending on the source and the quality.
In addition, the cost of insulin is affected by the cost of distribution. Insulin is a temperature-sensitive drug, so it needs to be stored and shipped in special containers. This adds to the cost of getting the insulin to pharmacies and patients.
Finally, the cost of insulin is also affected by the cost of marketing and promotion. Pharmaceutical companies spend millions of dollars on advertising and marketing campaigns to promote their products.
In summary, it costs Eli Lilly around $14.60 to make a single vial of Humalog. However, this cost does not include the cost of research and development, marketing, and other associated costs. These costs can add up to hundreds of millions of dollars for a single drug. As a result, the cost of insulin continues to rise, making it increasingly difficult for people with diabetes to afford the life-saving medication.