Eli Lilly announced is planning to sell a half-price version of its popular insulin injection Humalog. The announcement comes after criticism about rising drug prices in the United States. U.S. senators last week questioned executives from major drug companies, calling their pricing practices “morally repugnant."
Lilly’s cheaper product will be called Insulin Lispro, while Humalog, which makes $3 billion in annual sales, will remain available for those wishing to access it through existing insurance plans. The cost of insulin for treating type 1 diabetes in the United States has nearly doubled over a five-year period, leading some patients to put their own health at risk by rationing the medication.