Kaine reacts to drugmaker’s cap on the cost of insulin

WASHINGTON, D.C. (WDBJ) - US Senator Tim Kaine (D-VA) is applauding the news that drugmaker Eli Lilly is capping the cost of insulin.

Kaine spoke with reporters during a teleconference from his Washington office Wednesday morning.

But he also said it wouldn’t have happened without recent legislation capping the cost of insulin for recipients of Medicare.

“Had we not done this in the Inflation Reduction Act for insulin prices under Medicare, I think the chances that Eli Lilly would have taken this move today were essentially zero,” Kaine said. “Instead, they’re doing what any good hockey player would do. Wayne Gretzky says don’t skate to where the puck is; skate to where the puck’s going. And Eli Lilly’s decided to skate to where the puck’s going, and I’m really excited about it.”

Eli Lilly announced it will reduce prices of some insulin products by 70%, and cap out of pocket costs at $35 a month.

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