Eli Lilly’s Insulin Cost Cut Bolsters Supporters of Price Cap

Eli Lilly’s decision to cut the price of its insulin products has emboldened supporters who want to create a federal cap on prices of the diabetes medicine.

Senators on both sides of the aisle this week said the move by Eli Lilly and Co. to reduce the price of its most commonly prescribed insulins by 70% and cap what patients pay at $35 per month only reiterates the need for a federal law capping all insulin at $35 per month.

“This was an affirmation that this is the right way to go,” said Ron Wyden (D-Ore.), chairman of the Senate ...