Eli Lilly, the American pharmaceutical company, announced plans to cap the price of insulin for people with diabetes. The decision comes after years of public outcry and criticism over the rising cost of the life-saving drug.
The price of insulin has increased dramatically over the past two decades, with many patients struggling to afford the medication. In response to this, Eli Lilly announced that it would cap the cost of insulin at $35 per vial for uninsured patients and those whose insurance doesn't cover the drug.
The company's move is a significant step towards making insulin more accessible to those who need it most. In addition, the company also plans to offer discounts for insured patients, ensuring that more people have access to affordable insulin.
David A. Ricks, the CEO of Eli Lilly, stated that the company's decision was "the right thing to do." He added that "we understand the burden that insulin costs place on many individuals and families, and we're committed to helping to address this issue."
Eli Lilly's decision has been praised by patient advocacy groups and healthcare professionals alike. However, some critics argue that the move doesn't go far enough, as the cost of insulin remains high for many patients.
Overall, Eli Lilly's decision to cap the price of insulin is a positive step towards making healthcare more affordable for all. By taking action to address the rising cost of insulin, the company is demonstrating a commitment to putting patients first and improving access to life-saving medication.