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Drugmaker Eli Lilly Announces 70% Price Drop In Its 'Most Commonly Prescribed Insulins'

Five vials marked Humalog 100 units/ml, containing what looks like a dark red/blackliquid, sit in packaging.
Humalog is among the types of insulin that drug maker Eli Lilly said will be reduced in price.
(Niklas Halle'n
AFP via Getty Images)
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Big news this morning for anyone who relies on insulin: Drug manufacturer Eli Lilly announced that it's cutting the price by 70% on its "most commonly prescribed insulins."

Some details: The company's also expanding its Insulin Value Program, which caps patient out-of-pocket costs at $35 or less per month.

Why now: The announcement comes after waves of criticism saying the drug, vital to many people with diabetes, should be more accessible. The price of insulin has increased 600% over the last 20 years and prompted California lawmakers to commit to producing the state's own brand of generic insulin to sell at below-market prices.

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Why it matters: According to the American Diabetes Association, 8 million people in the U.S. with diabetes rely on insulin — about 4 million of those in California. Eli Lilly dominates the insulin market, along with two other competitors. Patients often struggle to pay the high costs of the life-saving drug, even when they're insured.

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