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Los Angeles Times

Business

Michael Hiltzik

Michael Hiltzik: Eli Lilly is slashing insulin prices, but hold your applause

Lilly United States PBMs Robin Feldman Medicaid Joe Biden Sanofi Inflation RAND

Eli Lilly & Co. played the altruism card like a champ on Mar. 1, when it announced steep price cuts on its insulin products of as much as 70%.

The big drug company said its action was all about helping diabetes patients, its goal being to "help Americans who may have difficulty navigating a complex healthcare system that may keep them from getting affordable insulin."

According to Lilly Chairman and Chief Executive David Ricks, America's healthcare system "still does not provide affordable insulin for everyone, and that needs to change."

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