Uninsured Americans pay nearly $98 on average for a vial of Eli Lilly’s generic insulin, even after the company pledged to cut the product’s list price to $25 per vial, according to a report released Thursday by Sen. Elizabeth Warren.

Eli Lilly earlier this year vowed to slash the list price of its generic insulin, Lispro, from $82.42 per vial starting on May 1. The Indianapolis-based pharmaceutical company is one of the world’s largest insulin manufacturers.

Novo Nordisk A/S is set to cut the U.S. list prices for several insulin drugs by up to 75%, the latest big drugmaker to make steep price reductions amid pressure to curb diabetes-treatment costs.

Novo, one of the biggest sellers of insulin in the U.S. and around the world, said Tuesday it would cut the list price of its NovoLog insulin by 75% and the prices for Novolin and Levemir by 65% starting in January 2024. 

Eli Lilly will cap the out-of-pocket cost of its insulin at $35 a month, the drugmaker said Wednesday. The move, experts say, could prompt other insulin makers in the U.S. to follow suit.

The change, which Eli Lilly said takes effect immediately, puts the drugmaker in line with a provision in the Inflation Reduction Act, which last month imposed a $35 monthly cap on the out-of-pocket cost of insulin for seniors enrolled in Medicare. 

Eli Lilly and Company said on Wednesday that it would reduce the price of its most commonly prescribed insulins and expand a program that caps monthly out-of-pocket costs for patients at $35 or less.

It said the company was taking the action to “help Americans who may have difficulty navigating a complex health care system that may keep them from getting affordable insulin.”

Eli Lilly & Co., facing pressure to curb diabetes-treatment costs, will cut the list prices for its most commonly prescribed insulin products by 70% and take other steps to make it easier for patients to afford the drugs. 

The Indianapolis-based company said Wednesday the 70% price cuts will take effect in the fourth quarter for Humalog and Humulin, its two biggest-selling insulin products.