Lilly plans to slash some insulin prices, expand cost cap

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Eli Lilly says it plans to cut prices for some insolence, starting in January, the federal government started capping the cost of insulin through Medicare at $35 a month. President Biden mentioned it during the State of the Union address. Let's finish the job this time. Let's cap the cost of insulin for everybody at $35. Lily says it will cut the list price for its most commonly prescribed insulin humalog and for another insulin humulin by 70% in the fourth quarter starting in October. This could mean relief for people with diabetes who face annual cost of more than a $1000 for insulin they need in order to live. Lily says it will immediately cap monthly out of pocket costs at $35 for people who are not covered by Medicare. President Biden says Eli Lilly is heeding his call and others should follow. Ed Donahue, Washington

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