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Eli Lilly to sell reduced-price insulin

INDIANAPOLIS (WOWO/Network Indiana): An Indiana-based drugmaker is bowing to pressure to lower the price it charges for life-saving medicine.

Big pharma company Eli Lilly will start selling Insulin Lispro, which they say will start selling at $137.35 per vial. In 2015, insulin made by the company cost over $230.

“We’ve engaged in discussions about the price of insulin with many different stakeholders in America’s health care system,” said David Ricks, Lilly’s chairman and chief executive officer. “We’re eager to bring forward a low-priced rapid-acting insulin.”

Last week, the CEOs of seven big pharma companies were called to testify before Congress on just why the price for insulin was so high. Lilly was not one of those companies, but they were sent a letter from Congress asking for information on their price for insulin.

“While this change is a step in the right direction, all of us in the health care community must do more to fix the problem of high out-of-pocket costs for Americans living with chronic conditions,” Ricks said. “We hope our announcement is a catalyst for positive change across the U.S. health care system.”

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