Great news for over 35 million Americans who suffer from diabetes. Eli Lilly, one of the nation’s top Insulin suppliers made a decision Wednesday to cap insulin costs at $35 a month. The American Diabetes Association hopes other pharmaceutical companies will follow suit. President Joe Biden expressed his approval on Twitter:
Insulin costs under $10 to make, but Americans are sometimes forced to pay over $300 for it. It’s wrong.
I signed a law capping the cost of insulin at $35 a month for seniors and called on Congress and manufacturers to bring down prices for everyone. Now, they’re taking action. pic.twitter.com/eMrCB69bTJ — Joe Biden (@JoeBiden) March 2, 2023
He also released a statement saying that “insulin costs less than $10 to make, but Americans are sometimes forced to pay over $300 for it…it’s flat-out wrong” The change will take place immediately.