- Ten Hag bemoans Man Utd's lack of killer instinct in Palace stalemate
- France's Macron appoints new government in shift to right
- Cheika proud of Leicester grit after winning start as boss
- Profligate Man Utd pay price in 0-0 draw at Palace
- Kane, Olise run riot as Bayern thump Bremen
- Diaz fires Liverpool top of Premier League, Man Utd held at Palace
- LIV champion Rahm out of LIV Team semis with severe flu
- Slot surprised by tearful Nunez's moment of magic
- Title rivals Norris, Verstappen on 'cool' front row for Singapore GP
- Biden talks China with 'Quad' leaders in hometown summit
- Juve and Napoli play out goalless draw in early Serie A title tussle
- Alcaraz fears tennis tour grind will 'kill us'
- Carey sparks recovery as Australia thrash England in 2nd ODI
- Leclerc, Sainz lament 'disappointing' Saturday in Singapore
- Bottega Veneta holds investors' aces as Madonna pops into D&G
- Beirut digs for victims at building flattened in Israeli strike
- Verstappen stages protest over 'ridiculous' swearing punishment
- Bayern boss Kompany lauds 'special talent' Olise
- Diaz fires Liverpool top of Premier League, Spurs bounce back
- Heavy fire over Israel-Lebanon border after deadly Beirut strike
- Ramos guides unbeaten Toulouse to Montpellier win despite Hogg scuffle
- Myanmar flood death toll jumps to 384
- Chelsea owners 'happy' with win at West Ham amid rift report
- Kane and Olise run riot as Bayern thump Bremen
- Ramos guides unbeaten Toulouse to Montpellier win
- Norris pips Verstappen to dramatic Singapore pole after Sainz crash
- Carey takes Australia to 270 in 2nd ODI against England after collapse
- Two Hezbollah leaders killed in Israel's Beirut strike
- Hungary Danube waters reach decade high after Storm Boris
- Bagnaia cuts Martin's MotoGP lead with Emilia-Romagna sprint win
- Jackson double fires Chelsea to victory at woeful West Ham
- Fiji beat Japan to lift Pacific Nations Cup
- Kasatkina to face Haddad Maia in Korea Open final
- S.Africa snowfall closes roads, strands motorists overnight
- Lawyers of women alleging Al-Fayed sex abuse receive over 150 new enquiries
- President Museveni's son backs Ugandan strongman for 7th term
- Norris quickest as Verstappen bounces back in Singapore practice
- Wallabies lament All Blacks' fast start
- Germany's Oktoberfest opens under tight security after attacks
- Environmental protesters block French cruise liner port
- Hezbollah in disarray after Israeli strike kills top commanders
- No place like home: Biden hosts 'Quad' leaders
- One dead, 7 missing as heavy rains trigger floods in central Japan
- Zelensky says no UK, US go-ahead to use long-range missiles
- New Zealand edge Australia 31-28 in Bledisloe Cup thriller
- Japan orders evacuations as heavy rains trigger floods in quake-hit area
- New Zealand pilot freed in Indonesia after 19 months in rebel captivity
- Hezbollah in disarray after Israeli air strike kills top commanders
- The BYD Seal Hybrid U DM-i AWD in a practical test by journalists
- Leading climate activist released from Vietnam jail
US drugmaker Eli Lilly says slashing insulin prices
US pharmaceutical giant Eli Lilly announced Wednesday it would cut the cost of its insulin by 70 percent, with President Joe Biden calling on others to follow suit to tackle soaring drug prices.
Manufacturers have ratcheted up insulin prices in recent years, hitting millions of Americans living with diabetes -- and drawing sharp political criticism.
"Insulin costs less than $10 to make, but Americans are sometimes forced to pay over $300 for it. It's flat wrong," said Biden, hailing Eli Lilly's price cut as "huge news."
"It's time for other manufacturers to follow," he added.
Indianapolis-based Lilly announced a series of steps to rein in prices of the life-saving drug, such as capping out-of-pocket costs at $35 per month for people with insurance.
"Lilly is taking these actions to make it easier to access Lilly insulin and help Americans who may have difficulty navigating a complex healthcare system," the drugmaker said in a statement.
While the $35 cap takes effect immediately, other measures will be implemented in the course of 2023.
A centerpiece is the 70 percent price drop in Humalog, Lilly's most commonly prescribed insulin.
The incidence of diabetes in the United States in adults has doubled over the last 20 years, afflicting 37.3 million people, according to the US Centers for Disease Control and Prevention.
Insulin prices have soared in the US, costing over eight times more than in 32 comparable high-income countries, a 2020 Rand Corporation study found.
The unaffordability of insulin -- particularly to uninsured Americans -- has become a rallying cry for pharmaceutical industry critics.
- Self-rationing insulin -
The cost of a five-pack of Humalog is currently $530.40, although the out-of-pocket price to a user varies depending on one's insurance plan. An average monthly use varies by user, Eli Lilly says on its website.
Drug pricing in the United States is affected not only by the cost of producing and distributing the pharmaceutical, but also other players such as insurers and pharmacy benefit management companies.
Critics such as progressive Senator Bernie Sanders have blasted the industry as emblematic of "unacceptable corporate greed."
"At a time when Eli Lilly made over $7 billion in profits last year, public pressure forced them to reduce the price of insulin by 70%," Sanders said Wednesday after the price-cut announcement.
"Sanofi and Novo Nordisk must do the same," he added, referring to two other companies which along with Lilly dominate the insulin market.
A survey by nonprofit T1International showed that one in four respondents living with diabetes reported rationing their insulin because of the financial strain.
The Inflation Reduction Act, signed into law last year by Biden, capped insulin prices for Medicare recipients at $35 per month, but people with private insurance or without insurance were left out.
Biden, in his State of the Union Address, called on lawmakers to rein in "Big Pharma" and "finish the job this time" by instituting a national cap on insulin.
In the company's statement, Eli Lilly Chief Executive David Ricks called on rival producers to join the effort.
"We know that 7 out of 10 Americans don't use Lilly insulin. We are calling on policymakers, employers and others to join us in making insulin more affordable," said Ricks.
"While the current healthcare system provides access to insulin for most people with diabetes, it still does not provide affordable insulin for everyone and that needs to change."
The company's statement referred uninsured consumers to an insulin affordability website, saying they could "receive Lilly insulins for $35 per month."
P.Stevenson--AMWN