WASHINGTON (Reuters) – U.S. President Joe Biden said on Wednesday he will try hard to get other companies to join Eli Lilly and Co in dropping the price of insulin.
Eli Lilly said on Wednesday it will cut list prices by 70% for its most commonly prescribed insulin products, Humalog and Humulin, beginning from the fourth quarter of this year.
“Once you expose these things, it’s awful hard to defend it,” Biden told reporters, referring to the high cost of insulin. “Once one major carrier or one major operator changes it, it changes everything. So I think we’ve made a lot of progress.”
(Reporting by Steve Holland; Writing by Eric Beech; Editing by Tim Ahmann)
