ALTAMONTE SPRINGS, Fla. — Diabetes patients and advocates in Florida — and across the country — will soon have access to cheaper insulin.

Pharmaceutical giant Eli Lilly announced this week it was slashing prices and limiting out-of-pocket costs for patients using its insulin drugs.

Officials at a Central Florida nonprofit celebrated the move, but cautioned it is just one step forward in the fight to make diabetes care more affordable.

What You Need To Know

  •  Eli Lilly announced reductions in price, and out-of-pocket caps on insulin drugs earlier this week

  • A Central Florida nonprofit says it is a good step in the fight for affordable access to diabetes care

  •  A local physician, though, says the decision came too late and should have been made sooner

“It’s a significant step for sure, and it’ll save a lot of lives, but I think it’s a step in the grand scheme of things,” said Sara Daniels, an employee at the nonprofit Touched by Type 1.

Eli Lilly announced reductions in price for its insulin medications, including one that will be reduce by 70% by the end of the year. The company also said it would work with pharmacies to cap out-of-pocket costs for patients to $35 a month.

Touched by Type 1 was founded 22 years ago by Elizabeth Forrest, a Type 1 diabetic, who was diagnosed at the age of 10.

“There’s no choice — I have to take insulin or I wouldn’t be sitting here," she said. "And so, to see a drug like this, where the cost just goes up, we have no choice in the matter, we’re customers for life unfortunately."

However, Forrest said Eli Lilly’s announcement this week was a major step forward for millions of diabetics around the country.

“It’s a huge game changer, and it’s lifesaving for so many people,” she said.

At her nonprofit — which sends care packages with information, product samples, and resources to newly diagnosed diabetics — Forrest says they field constant questions about insulin prices.

“The cost of insulin is always a topic of conversation,” she said.

Often costing hundreds of dollars, depending on the prescription type, insurance provider and manufacturer, Forrest says patients can be forced into tough decisions about how to pay for it.

Now, she and others hope some of those tough decisions are eliminated.

“I absolutely think this will save lives,” Forrest said.

At his office in Central Florida, internal medicine Dr. Aftab Khan said Eli Lilly’s decision was good, but came too late. Khan said for years, he’s had to prescribe high-cost diabetes medication to patients he knows will struggle to afford it.

“Insurance company was telling me, get prior authorization," he said. "Why should I get a prior authorization when I know it will save my patient’s life? They should have made this decision a long time ago."

While the change will make the cost of insulin go down, Daniels, Forrest and Khan said there are dozens of other high costs associated with diabetes care.

“I was honestly really excited about it," Daniels said. "I’ve personally been waiting for something like this to happen for a really long time."

Eli Lilly’s announcement comes as President Joe Biden continues to put public pressure on drug companies to reduce prices for diabetes care.

In an estimate distributed Thursday, the White House says more than 10% of Floridians over the age of 18 have diagnosed diabetes, nearly 2 million people.