Eli Lilly says it will cut the price of insulin

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Eli Lilly & Co said Wednesday it will reduce the price of its most commonly prescribed insulin and expand a program that provides monthly out-of-pocket costs for patients of $35 or less.

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

Insulin, a life-saving drug usually taken daily, has become increasingly expensive in recent years, and many diabetics ration their drugs or discontinue them because of the cost. More than 30 million Americans are living with diabetes.

It comes after years of mounting criticism from Americans who have said the drug should be more accessible. Criticism led to lawsuits and legislation.

This is a developing story. Check back for updates.

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