Eli Lilly Is Slashing Insulin Prices by 70%. Here's Why Investors Shouldn't Worry.
There has been pressure from the U.S. government for healthcare companies to reduce the price of insulin. As the price of just about everything has been rising amid inflation levels not seen in decades, that's forcing people to make some very difficult decisions about what to spend money on, including healthcare.
Eli Lilly (NYSE: LLY) recently stepped up and said it would be drastically reducing the price of its insulin products. It's a good move as it helps people with diabetes, and while it may seem like this could put a dent in the company's financials, here's why investors don't need to worry much.
On March 1, Eli Lilly said that it would be making insulin more affordable for people by slashing the price of its most commonly prescribed insulins by 70%. People who don't have insurance can obtain the company's insulin for $35 per month through Eli Lilly's Insulin Value Program.
Source Fool.com