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A major producer of insulin, announced on Tuesday that it is lowering the out-of-pocket cost of insulin to $35 per month due to the coronavirus pandemic.

According to KWQC, Eli Lilly, one of the 3 major producers of insulin, said they are lowering the out-of-pocket cost of insulin to $35 per month, citing financial hardship of people needing insulin due to the coronavirus.

The move to cap the out-of-pocket cost went into effect on Tuesday. The co-pay cap will cover most of Eli Lilly's insulins, including the Humalog injection.

The new program is available to the uninsured as well as commercially insured people with Type 1 diabetes. The pharmaceutical company said it is not available to patients with government insurance such as Medicaid, Medicare, Medicare Part D, TRICARE®/CHAMPUS, Medigap, DoD, or any State Patient or Pharmaceutical Assistance Program due to federal guidlines.

Click here to read Eli Lilly's full announcement.

According to KWQC, Eli Lilly says it is exploring extending the cost reduction even after the pandemic crisis ends.