GoodRx analyzed the price of 32 insulin products across all manufacturers and types, based on a nationally representative sample of prescription fills. The reported prices per unit reflected retail costs at pharmacies.
The average price of an insulin unit fell from $0.33 in 2019 to $0.19 in mid-2024, representing a 42% decrease and the lowest unit price recorded since 2014.
The decrease follows the 2022 passage of the Inflation Reduction Act, which capped out-of-pocket insulin costs for Medicare beneficiaries at $35 per month. Several drugmakers, including Eli Lilly and Sanofi, have similarly capped monthly costs.
Several new generic and biosimilar versions of insulin have hit the market since 2020, also driving down retail prices, according to the report.
“The price dips provide much-needed relief for those managing diabetes,” GoodRx wrote in the report. “The reductions signal progress but also underscore the need for continued action to ensure insulin remains affordable for all who need it.”
View the full report here.
