eli lilly's ceo david ricks. how do you ensure patients that were not going to see the same rises of insulin in the future? >> we haven't rolled out a guarantee, but what i'll say, over the last five years we've frozen prices and cut them. >> reporter: the price cuts are a victory, but too late for her son. >> yeah, i think if the price of insulin in 2017 had been $35, alec would still be alive today. >> reporter: eli lilly reported a net income of about $6 billion last year. this year, the ceo says the company plans to invest about $8 billion in research and development for new drugs. that would include new forms of insulin, which would not fall under these price caps. he says he, like many lawmakers and patient, hopes that his competitors will follow suit. norah? >> all right. lilia luciano, thank you. >>> also in tonight's health watch, colorectal awareness month. an alarming new report shows the disease is increasingly being found in younger patients and at more advanced stages. 60% cases are advanced iety sa

—— eli lilly executives. an idon't think they gave to clear of an answer— idon't think they gave to clear of an answer of— i don't think they gave to clear of an answer of why _ i don't think they gave to clear of an answer of why this _ i don't think they gave to clear of an answer of why this precise - an answer of why this precise moment but they— an answer of why this precise moment but they did _ an answer of why this precise moment but they did take — an answer of why this precise moment but they did take a _ an answer of why this precise moment but they did take a support _ but they did take a support legislation— but they did take a support legislation that _ but they did take a support legislation that would - but they did take a support - legislation that would mandate a $35 cap across _ legislation that would mandate a $35 cap across the — legislation that would mandate a $35 cap across the board, _ legislation that would mandate a $35 cap across the board, but _ legislation that would mandate a $3

and lilly stock rose.nt up on 35. >> there is some hope on the visible community that maybe lilly will win market chairs here. but lilly actually pointed out itself that ceo told us this is not a -- driver for them, this is a shrinking revenue stream. it goes down by about 50% per year. insulin is an old drugs. you have much bigger medicines that are excited about for diabetes, for weight loss, but they're hoping to get reimbursement for it. so perhaps they're looking for good will, in this takes some pressure off of them. >> but it also, to me, shines a spotlight. insulin is the poster child for this problem. but everything about drug pricing just seems completely deranged and illogical. i'm just saying, at the point of the consumer, when you go, if you have a prescription, it's like a wheel of fortune. you just go and you say oh, $5, okay great. then sometimes it's like $280. i don't know. whatever you got. it's completely irrational system that we are operating. who are we operating under? >> they know

football star and top nfl draft prospect linked to a crash that killed a teammate >>> drugmaker eli lilly slashing the price of insulin, the major impact for millions of americans who need the lifesaving drug. >>> and my conversation with john williams, the legendary composer behind "star wars," "jaws," and "indiana jones" and the very theme you're listening to right now on making history at this year's oscars >> announcer: this is "nbc nightly news" with lester holt >>> good evening we're glad you're with us tonight a double murder case that has drawn national attention with a prominent south carolina family at its center is inching toward its conclusion tonight with the prosecution resting its case against alex murdaugh, but not before the jury saw for itself the family property where the former attorney allegedly shot and killed his wife and son. the jury driven to the crime scene. later in the courtroom the lead prosecutor delivered his closing arguments telling jurors murdaugh was the only one with the motive, means, and opportunity to commit the murders, and painting murdaugh as som

eli lilly ceo david ricks.that were not going to see the same rises in the price of insulin in the future? >> you know, we haven't rolled out a guarantee but what i will say is, over the last five years, we froze prices and cut them. >> reporter: smith-holt says the price cuts are a victory, but too late for her son. >> yeah, i think if the price of insulin in 2017 have been $35, alec would still be alive today. >> reporter: eli lilly reported a net income of about $6 billion last year. this year, the ceo says the company plans to invest about $8 blion iresear new drugs. that would include new forms of insulin, which would not fall under these price caps. he says he, like many lawmakers and patients, hopes that his competitors will follow suit. norah? >> norah: all right, lilia luciano, thank you. also in tonight's "health watch," this is colorectal cancer awareness month. and an alarming new report shows the disease is increasingly being found in younger patients, and at more advanced stages. the american canc

. >>> coming up, drug drop lilly slashing prices for some of its best-selling drugs.it could mean for your stock and wallet and mark for the women and wealth event on cnbc on april 11 we'll explain how women are save for the future "fast money" is back in two. ♪♪ for skin as alive as you are... don't settle for silver. harness the power of 7 moisturizers & 3 vitamins to smooth, heal, and moisturize your dry skin. gold bond. champion your skin. the first time your sales reached 100k was also the first time you hit this note... ( screams in joy) save 20% with the lowest transaction fees and keep more of what you make. with a partner that always puts you first. godaddy. tools and support for every small business first. (fisher investments) it's easy to think that all money managers are pretty much the same, with a partner that always puts you first. but at fisher investments we're clearly different. (other money manager) different how? you sell high commission investment products, right? (fisher investments) nope. fisher avoids them. (other money manager) well, you must

they'll have to run larger trials but that was on a drug similar to eli lilly and they also said that an oral drug, a pill that they're testing now in phase one so, entering the market, it is going to be a question of does every big company need to be in this space because the opportunity is so large. >> meg tirrell, thank you very much for more, let's bring in jared holt, a health care equity strategist with midduo what does it mean for the weight loss market as a whole very rosie picture painted by the two execs that meg tirrell spoke to today. >> it is probably the one market that investors continue to talk about as being one that they have confidence in for obvious reasons. the patient population is massive, the drugs are working really well. all of the trial results so far from novo and lilly and some others that are in the fray as well, have also inspired a lot of confidence that this group continues to do well as we move towards the second half of the decade here. >> jared, it is tim. so you talk about the addressable market side for this and the competitive landscape. is lilly

. >>> a major decision tonight by drugmaker eli lilly. when it comes to insulin. under growing pressure, the company says it will now cap the price of insulin at $35 a month, out of pocket, for everyone. this affects millions of americans. >>> the war in ukraine, and tonight, the extraordinary images coming in. ukraine releasing video claims to show russian tanks being destroyed in a cloud of smoke in the east. james longman from ukraine tonight. >>> back in the u.s., the deadly fire in buffalo. a firefighter killed when a burning building collapses, an explosion knocking several firefighters to the ground. >>> what singer ed sheeran has revealed about his wife, diagnosed with a tumor while pregnant. >>> and america strong tonight. the story that moved so many of you at home, in fact, many of you got to work saving the family photos. >>> good evening and it's great to have you with us on a very busy wednesday night. we begin tonight with the alarming discovery at an airport in allentown, pennsylvania. the tsa found an explosive s sa- device in a passenger's luggag

finally, eli lilly gladly wanting to get ahead of looming market competition.ced it will begin producing insulin for no more than $30 per vial. then, california announced a plan to produce its own insulin, kept at $30 per mile as well. whatever the motive, the potential for this decision to spur a race to the bottom for insulin prices could bring us back to the inventors intent, that this lifesaving drug, this is life saving drug is accessible for all who need it. joining me now is -- the deputy director of the national economic council. thank you for being here, but not. really good to see you, man. so, where do you foresee drug companies flowing, moving, going after eli lilly made this announcement? >> well, as you laid out very nicely at the top of the segment, this will make a massive difference in the lives of millions of people. i think it is really a direct result of the presidents use of the pulpit, remember for years now over one year the president has been calling out the fact that the price of insulin is way higher than the cost it takes to manufactu

. >>> a major win for the biden administration eli lilly slashes the price of their insulin, bringing critical relief for millions of americans. >>> a texas mother outraged after her son is taped to a child in class >> you don't do that to a child. he's not an animal he's a human being >> what the school is saying about the teacher and the incident >>> >> >>> dunkin' into your wallet who's really reaping the rewards? >>> tiktok in the hot seat over the latest filter. is it just harmless fun or distorting beauty standards? "early today" starts right now >> good morning, i'm frances rivera >> i'm phillip mena. the defense will begin closing arguments in the alex murdaugh double murder trial. the prosecution got this turn yesterday, painting him as a disbarred lawyer under trouble and couldn't take it anymore >> and they were all reach ago crescendo the day his wife and son were murdered by him >> prosecutors hammering murdaugh on the lie he was caught telling he claimed he was never at the family kennel that night, except he was, coming clean about his lie on the stand the state also re

lilly pointed out it has not raised the list price of insulins in years.price is what they realize, $43 in 2021 compared with $275 the list price now that's coming down to $66. in a conference just now, dave ricks calling on the rest of the system to make similar moves. >> to my friends and colleagues running large companies or big employers we urge you to share manufacture rebates with your beneficiaries or employees at the point of sale and exempt insulin and other life saving drugs from insurance deductibles to make prices more predictable and fair. >> reporter: and called on policy makers and pharmacies i reached out to see if they're going to follow suit and react haven't hear back. one person we heard from, tweeting, the president of the united states, joe biden saying this is huge news. last year they capped insulin prices for seniors on medicare but there was more work to do. today eli lilly is heeding my call he said others should follow and we have dave ricks on closing bell at 4:30 tune in for that. >> good. it'll be interesting to hear from him

the president suggesting eli lilly's decision could be a game changer. 35 bucks. but guess what that means. every other company making insulin is going to have to lower their prices of 35 because they can't compete out of the nearly 8.5 million americans who use insulin. nearly three million rely on eli lilly products and its prices for the lifesaving medication have skyrocketed. many diabetics have been forced to make dangerous decisions to save money. he would be able to successfully do 1/4 of all type one diabetics do and that was ration is insulin until payday. unfortunately, he lost that. that. game of russian roulette, i guess poll by the kaiser family foundation found that a slight majority of americans want congress to put capping insulin costs on its list of top priorities were doing this completely voluntarily because it's time and it's the right thing to do. and andrew president biden as recently as this week called out republicans from blocking his proposal to extend a $35 insulin cap to everyone. now, this could potentially become a campaign issue if

geoff: will this announcement by eli lilly push other insulin makers to follow suit? bram: it's certainly possible. i mean, you saw president biden applauded the announcement. bernie sanders has written letters to the ceo's of sanofi and novo nordisk. those two companies, together with eli lilly, account for something like 90% of insulin that's used in the united states of america. so, bernie sanders has written letters to their ceo's asking them to follow suit. so there's certainly pressure. geoff: as you mentioned, this announcement by eli lilly puts the company in line with the provisions in the inflation reduction act capping out of pocket costs for seniors who rely on insulin. but let's talk about how we got here, because, in 1999, one vial of humalog, which is a diabetes drug, cost $21 a vial. in 2019, that cost was $332. that's a 1000% increase. how did that happen? bram: you know, one of the ways to think about it, i kind of descbe it as a "game of thrones" that pharmaceutical companies are playing with insurers and these middlemen called pharmacy benefit mana

the pharmaceutical giant there, eli lilly has said it will cut the price of insulin products by 70 percent. that's obviously an important medicine for people with diabetes. the high cost of medication has been a major issue in the u. s. for some time. what is this move about? so christie and it's also become a big political topic. i mean, more than 30000000 americans suffer with diabetes center. good to 7000000, highly depend on insulin. so now the step from eli lilly definitely is a well come new is some, even if i have to say it only applies the price to older insulin a product, so not to a new $1.00. and then also hi lily. over the years, for some insulin product actually has increased prices by more than 1000 percent. but there has been a lot of pressure from the white house, from congress in general. so it's definitely a ride step, but not all of the problems are off the table. so as i mentioned, it's only, it's only affecting older insulin, a product and not newer car to thanks so much for that. now to have a look at some of the other global business stories making this tick tock has

football star and top nfl draft prospect linked to a crash that killed a teammate >>> drugmaker eli lilly slashing the price of insulin, the major impact for millions of americans who need the lifesaving drug. >>> and my conversation with john williams, the legendary composer behind "star wars," "jaws," and "indiana jones" and the very theme you're listening to right now on making history at this year's oscars >> announcer: this is "nbc nightly news" with lester holt >>> good evening we're glad you're with us tonight a double murder case that has drawn national attention with a prominent south carolina family at its center is inching toward its conclusion tonight with the prosecution resting its case against alex

so now the step from eli lilly definitely is a well come new with some, even if i have to say it only applies this price kept to older insulin a product, so not to new ones. and then also hi lily over the years. so for some insulin products actually has increased prices by more than 1000 percent, but there has been a lot of pressure from the white house, from congress in general. so it's definitely a ride step, but not all of the problems are off the table. so as i mentioned, it's only it's only affecting older insulin, a product, and not newer car to thanks so much for that. now to have a look at some of the other global business stories making this tick tock has announced. it will introduce an automatic 60 minute daily time limit for all users under the age of 18. take talk and other social media platforms are facing increasing scrutiny over their impact on teens. but young users will still be able to turn off the default setting, which i'm sure they will, german export or say they're increasingly facing obstacles to international trade. a survey by the german chambers of industry a

the ceo and chair of eli lilly and company, dave ricks. thank you, sir.don. thanks for having me on today. >>> we have new details about the lawsuit against fox news. how members of the fox corporation and their board could even face more legal exposure if they fail to act. >> we are going to speak to an attorney who says his former client suffered from what he called foxitis and foxmania and says that the lies his former client heard on the network partly inspired him to storm the capitol. ♪ experience t the elevation ofof electrification at the invitation to lexus saleles event. ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq ♪ ♪ ♪ voltaren. the joy of movement. ♪ did you ever stress about us having three kids? no, that was always part of the plan. three kids?! this was never part of the plan! these kids order the lob

the president suggesting eli lilly's decision could be a game changer. >> $35.t that means? every other company making insulin will have to lower their prices to $35 because they can't compete. faith: out of the nearly eight and a half million americans who use insulin, nearly 3 million rely on eli lilly products. as prices for the medication have skyrocketed, many diabetics have been forced to make injury's to save money. >> we would be able to successfully do what one fourth of all type one diabetics do which is ration insulin until payday. faith: kaiser family foundation found a slight majority of americans want congress to put capping insulin costs on its list of top priorities. >> we are doing this completely voluntarily because it is time and it is the right thing to do. faith: president biden as recently as this week called out republicans for blocking his proposal to extend a $35 insulin cap to everyone. this could potentially become a campaign issue if the president decides to join the 2024 presidential race. reggie: h francisco leaders are heading to n

drugmaker eli lilly announcing it's cutting the list price of its most commonly prescribed insulin byof pocket costs at $35 a month. >> it's such a relief. it's a huge significant step in making this deceased manageable. >> and murray gibson's sons both use eli lilly insulin for their diabetes. they spoke to nbc news in december as costs in america soared for the lifesaving drug. >> i am so angry. it's exhausting. >> in january, the inflation reduction act, proposed monthly cap on insulin costs for seniors on medicare. but millions of younger diabetics we're still paying much higher rates. the move comes after years of political and patient pressure. >> i think we all have heard enough about insulin affordability here in america. we should be able to solve this problem ourselves. >> eli lilies cap automatically applies to people with private insurance. those without coverage will be eligible, as long as they sign up for a savings card through the company. but only about 30% of the nation's 8.4 million diabetics who rely on insulin get it from eli lilly. >> do you expect to see the oth

lilly already has an existing $35 cap on out-of-pocket maximum but this plan will make it easier forvately insured patients to save money. the company along with two others have been a major factor in the soaring cost of insulin around the years. around 8.4 million people in the u.s. with dipeats rely on insulin, and just three companies including eli lilly control about 90% of the market for it. a vial of lilly's most common prescribed insulin currently has a list price of roughly $275 a vial, that price is a $1,000% increase from when the product hit the market in 1996. the company plans to reduce the price per vial to $66, which means the medicine will still cost more than three times it did in 1996. research estimates it only costs less than $7 to produce a vial of insulin. now its announcement to cap the out-of-pocket insulin costs comes as a big win for the biden administration. the president has made it a point to rein in the cost. however, through last year's inflation reduction act congress and the white house were able to cap the cost of insulin for seniors with medicare co

. >> eli lilly says it is droping the price of its most prescribed insulin products by 70%. >> is annt day for anyone in the u.s. who uses lily insulin. ♪ ♪ >> norah: one fighter fighter dies after a massive fire in buffalo. >> today has been a very difficult and painful day for the buffalo fire department. ♪ ♪ >> norah: closing arguments and a field goal field trip in alex murdaugh's double murder trial. >> 's own storm would actually mean consequences for maggie and paul. ♪ ♪ >> norah: and talk about an inspiration. a 98-year-old woman runs a 5k. ♪ ♪ >> norah: good evening, and thank you for joining us on thiy night. tonight, our continuing series on retirement focuses on the tens of millions of americans that don't have a retirement plan through their employers, so we've got some advice, what you can do to up your savings as you approach the golden years. but first, we have to get straight to that breaking news, a pennsylvania man under arrest tonight after he allegedly tried to check a bag with what the tsa says was indeed a live explosive device. that flight was bound for florid

i just wanted to follow up on yesterday's good news from eli lilly. heeding the president's call for a company to lower their prices and cap their insulin costs at $35. data today shows that americans in all 50 states, especially in communities of color, will benefit from the president's cost-cutting actions. through the inflation reduction act, close to the 4 million sectors -- pardon me, seniors on medicare with diabetes are protected. seniors tarted to see their insulin costs capped at $35 per month this past january, saving some seniors hundreds of dollars this past, hundreds of dollars for a monthly supply this past january combined lie lily's announcement -- eli lilly's announcement which is the largest insulin manufacturer we're making serious progress for cutting costs for roughly 26 million americans. these cost-cutting measures will also disproportionately impact communities of color as black, hispanic, more than indian, alaska, native adults have higher rates of diabetes in the united states than white americans. and, of course, this also b

>> well, eli lilly in particular is an interesting one.t talking with evan eagerman he was saying the positive attention from the president is a good thing there's also potential for more volume of their insulin. this is seen as a leader in alleviating the pressure on insulin pricing. we'll have to see what happens in the marketplace >> meg, thank you very much.e es it's on the brink of its iphone moment how far that could reachened the companies poised to benefit. >>> and cnbc's new show "last call" debuts one week from today. catch it monday through friday, 7:00 p.m. eastern. "the exchange" will be right back ♪ ♪ wow, we're crunching tons of polygons here! what's going on? where's regina? hi, i'm ladonna. i invest in invesco qqq, a fund that gives me access to the nasdaq-100 innovations, like real time cgi. okay... yeah... oh. don't worry i got it! become an agent of innovation with invesco qqq conventional thinking delivers conventional results. at allspring, we break away with purpose. harnessing data-driven insights and boundless curi

eli lilly raised the price more than 30 separate times. what happened to the same drug made by the same company sold in canada? it was only $40. $300 in the united states. is it any wonder that eli lilly generated more than $22 billion in revenue from insulin alone between 2014 and 2018. let me repeat that number. $22 billion in profit during that four-year period. and let's be clear. during the same time, eli lilly spent $1.5 billion on sales and marketing for insulin. try to turn on the television set and get away with not seeing a pharmaceutical commercial from this company and so many others. eli lilly spent four times more than it spent on research for marketing this product and others. the company's profit taking on this life-or-death drug has had deadly consequences. when the price went up to $300 a month, many people just couldn't afford it. more than one million americans report having to ration or cut back doses of insulin, an extremely dangerous gamble. i received a letter from one of my constituents from paylows park who faced

why eli lilly is slashing the price of this lifesaving drug. l. i'm still moving toward what's next. even with higher stroke risk due to afib not caused by a heart valve problem. so if there's a better treatment than warfarin... i'll go after that. eliquis. eliquis reduces stroke risk better than warfarin. and has less major bleeding than warfarin. eliquis has both. don't stop taking eliquis without talking to your doctor as this may increase your risk of stroke. eliquis can cause serious and in rare cases fatal bleeding. don't take eliquis if you have an artificial heart valve or abnormal bleeding. while taking, you may bruise more easily... or take longer for bleeding to stop. get help right away for unexpected bleeding, or unusual bruising. it may increase your bleeding risk if you take certain medicines. tell your doctor about all planned medical or dental procedures. the number one cardiologist-prescribed blood thinner. ask your doctor about eliquis. hi, i'm darlene and i lost 40 pounds with golo cardiologist-prescribed blood thinner. in just

we should be able to solve this problem ourselves. >> eli lilly's cap automatically applies to peoplewithout coverage will be eligible, as long as they sign up for a savings card through the company. but only about 30% of the nation's 8. 4 million diabetics who rely on insulin get it from eli lilly. >> do you expect to see the other drug makers follow suit? >> i certainly hope that they do. i think in general, all of the influence the drug manufacturers make should be affordable and accessible. >> today, insulin makers sanofi and novo nordisk pointed to their own savings plans for participants. for mom anne-marie gibson, today is a good day, could start to saving lives. >> rationing insulin gets scary. some have died. >> knowing her sons now face a future where a vital prescription won't carry such a hefty price. kristen dahlgren, nbc news. >> our thanks to christine dahlgren for that report. up next, a young boys 80,000-dollar-plus act of kindness for his favorite waiter. i will talk to both of them, next. m, next of delicious subs. like #8 the great garlic - rotisserie style chicken

so now you have eli lilly doing this, taking this step. make a huge difference for families across the country. and the thing is, the last part i'll say about this, you have house republicans who are saying that they want to repeal the "inflation reduction act." if you do this, if they were to get away with that and make that happen, it would increase costs and also increase the deficit. so this is a huge deal. we should be talking about it. it's going to change lives, individuals in america and families. and this is a huge deal, a huge deal. >> it's striking and sometimes what we see coming out of washington with these markets isn't always the big clash that gets covered, but it matters a lot. you mentioned house republicans. the president did welcome the relatively new speaker. you kept much of that closed to the press. we would like to know more, but we get it. this is kevin mccarthy heading into that meeting. >> you know the best way to do that? is being willing to negotiate. the only irresponsible way is to play a political game and s

garcia this move by eli lilly is going to be potentially life saving. a recent survey said. some one in four patients reported rationing their insulin due to the high cost. can you kind of give us the magnitude of this announcement? yeah this is a pretty big deal and something that we at the 88 have been fighting for. for the last seven or eight years. we've launched a campaign to make insulin affordable because we saw what this was doing to the millions of americans who have diabetes. insulin is not a new drug. it's not actually a drug at all. it's a hormone that all of us rely on to control our blood sugar and keep it at a safe, healthy level. if you're fortunate enough to not have diabetes, then your body makes enough. it makes it at the right time, and it works correctly. unfortunately for millions of people, that's not the case. yeah agreement by lily will once again make insulin affordable for many, many people who have been. you know, compromising their health because of the cost . we've heard so much about the cost of insulin and i myself i mean, i read these stories

eli lilly is cutting the price of its commonly used forms of insulin by 70% and capping out of pocketts for the medication at per month, culmination of work n doing to reduce the price of our insulin's the inflation reduction act, imposed a $35 monthly cap on insulin for seniors. asian that took effect in january. during his state of the union address, president biden called on other drugmakers to lower their prices to this is great news and important progress toward lowering costs for all americans. price cuts are potentially lifesaving. still nonprofit organizations like beyond type one say more needs to be done. it needs to be system wide change amongst the entire u. s healthcare system because we just we know how broken it is really is calling on other groups like the insurance industry and congress to match their effort and lower insulin prices for everyone in washington mother rivera fox news for more now we're joined by lisa murdoch from the american diabetes association. lisa good to have you with us. hi good to be here. well eli lilly, promising 25 to $35 for a vial of non br

president biden praised the move by eli lilly and called on other insulin makers to do the same. >>> for some people with covid symptoms, they don't always end when the infection ends. it's called long covid. researchers studied people suffering from long covid who were experiencing fatigue, and they saw deformations in some parts of their brain. deformities, i should say. they don't understand why yet, but tate first step toward improving medical care for people with long covid. the study was published in the lancet medical journal. >>> why a judge is holding off on dismissing charges for now. >>> we'll get a look at the fresh snow that remains in the bay area after the snowy weather. we'll show you next before it all melts away. >>> and that sunshine was really great to get. you can see it here across san francisco. we'll show you what's copping in order for small businesses to thrive, they need to be smart... efficient... agile... and that's never been more important than it is right now. so for a limited time, comcast business is introducing small business savings. call now to ge

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i want to switch it out and put in eli lilly., five years, what has he done other than mint money? fantastic cybersecurity and halliburton, a little down. we own this, too, for travel trust. i think halliburton is a double buy right here. let's take eric in tennessee. eric. >> hi, jim. this is eric from tennessee. my five stocks are dks, hsy, hershey, unh, united healthcare, dvn, devon, and waste management. am i diversified? >> wow. i'm in all of this portfolio. this is some really good work here. devon is a little down now, missed the quarter. dick's, talk about a blowout quarter retailers. waste management, i like that action above 160, looks pretty good and then hershey, amazing. hershey and general mills, they are fighting each other for the king of consumer packaged goods. we got industrial waste, a great retailer, an oil company and a superior healthcare insurance company. it's perfect. there's nothing you can do there whatsoever. let's go to steve in wyoming. steve. >> good afternoon, jim. this is steve from wyoming and m

. >> eli lilly, the manufacturer of several insulin products announced that it's slashing prices whato see the change? >> this is effective immediately, craig it's such a game changer think about this 37 million people in this country have diabetes. about 8.5 million rely on insulin to manage their conditions so this takes place right away whether you have private commercial insurance or you're uninsured. here's how it works. it's an out-of-pocket cap of $35 a month. you will not pay more than $35 a month for your insulin for people with commercial insurance, it's going to happen automatically for you at about 85% of the retail pharmacies in this country for the other 15%, what you need to do is go to lilly.com and download their coupon with the bar code and you'll get that price cap, as well this is not the only drug we're talking about. lilly is actually going to lower the prices for a few other insulins, as well, including hemalog, which is their most popular insulin. that's happening in the last quarter, starting in october but it's going to go from $275 down to $66. when we say i

and eli lilly has decided they're going to skate where the puck is going. and missouri republican senator josh hawley criticized escalating costs. >> but it done this years ago, they didn't do it because they were forced to do it because they like making all of those profits off of the backs of people who are desperate for insulin have to have it literally in order to live. and the company ceo says this is a result of conversations between lawmakers and the company about the cost of the medication. reyna. >> all right. we're shopping for the update. still to come on the kron 4 morning news, an avalanche in the tahoe area destroyed an apartment building. we'll break down the latest on that after the break. well, an avalanche actually hit a 3 story apartment building in placer county tuesday night. >> the sheriff's office says the avalanche was 200 yards wide and 25 feet deep and the residents, thankfully they were not hurt and they eventually they were evacuated. deputies also evacuated other areas nearby because of the risk of more avalanches. take a look a

and eli lilly isn't alone. american manufacturers charge exponentially more per vile than manufacturers in other countries do, and because so many diabetics need these to live paying these prices isn't really choice. last year millions of americans were forced to ration their insulin, a cost saving amount that can lit rel be deadly. the truth is that activists and democrats have been trying for years to fix this with legislation. last year president biden managed to cap insulin prices for seniors who use medicare at $35 a month, but republicans voted against allowing that discount to apply to the millions of americans under 65 who need the drug to live. with republicans in control of the house this year there wasn't a ton of hope that new legislation would get passed anytime soon. but now it looks like it might not have to. today they announced they're voluntarily capping the price of their insulin at $35 a month whether or not you have insurance effective immediately. the company's ceo said the decision came a

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in fact, eli lilly shares were higher on that news. just kind of interesting because this will into their profits. but eli lilly announcing its capping the cost of insulin at $35 a month. bringing relief for millions. now the american diabetes association applauded the decision and encouraged other insulin makers to lower their costs as well. we'll dollar tree has profited from raising prices above a dollar. in fact, the retailers adding $3 in $5 items that over 1800 stores this year. now some of the products include frozen and refrigerated foods. so things like pizza and ice cream. well, tiktok announced major changes for under 18 users. so the one hour daily limit will be rolled out in the coming weeks. the new 60 minute time limit will be automatically applied to every user under 18. and they'll be asked to enter a passcode to continue scrolling after an hour. and southwest airlines is upping its caffeine game by introducing in-flight bottled iced coffee. so for $4 you can board the southwest flight. h- they will add that on 4,000 d

pharmaceutical giant eli lilly/is the price of insulin after pressure from the government and consumers party's candidate wins nigeria's presidency after a disputed vote. plus much more. >> this is the pbs newshour from w eta studios in washington and from the west in the walter cronkite school of journalism at arizona state university. >> across the country a least 150 bills of been filed by republican legislators targeting transgender americans this year. roughly 100 specifically restrict doctors and other providers from offering transition related health care for minors even when their parents approve. liam brangham takes a look at where these bills are being proposed and the impact they could have. >> yesterday mississippi's republican governor signed a law banning puberty blockers, hormone therapy and other gender affirming care for minors. it is the third state this year to legalize restrictions on transgender health care and similar bands are moving quickly through tennessee and indiana. we will talk with someone who tracks all of these new laws. but first let's hear fm some pare

we know november a nord disc and eli lilly are ahead of the pack.ill other competition bring the price of these drugs down? >> i think they are really far out. hard to imagine people competing directly if i had to speculate i guess that the place that the other companies might be able to make a dent is on trying to address some of the issues with these drugs and the main ones are tolerability rather than safety it it itself they are hard to use this is not take a pill, forget about it, put your bathing suit on, go to the beach. it's a chore to take these it's not everybody who can do it either. >> what's the next step in the science of these drugs >> there are pill forms. i don't see that as being gigantic forward, you know, may change a few people's minds. we have experience with cholesterol medicines where the latest sclas of medicines, those are injectable we were concerned about whether patients would want to take them when they came to the market in 2015 turns out that patients love it. it's a once every couple of week injection and they forget

eli lilly saying it's going to cut the price for most.prescribed insulin by 70% starting in september. the ceo said in a statement that it takes some time for insurers and pharmacies to implement these price the drugmakers also going to be capping out of pocket costs at $35 per month for people who are not covered by medicare, according to the american diabetes association, more than 8 million americans use insulin with some paying more than $1000 a year for the drug. >> it's 8.26. and twitter is rolling out a new policy aimed at trying to stop violence speech. the new violence speech policy prohibits users from threatening or from glorifying violence. it was just announced yesterday and it also prohibits threats of damage to homes and certain other buildings. twitter says in most cases it will permanently suspend accounts for those who violate the policy. >> we're going take a break here day. 26 coming up next on the kron 4 morning news. keeping an eye on those freezing temperatures. they are beginning to warm, quote, unquote, slightly c

lilly, thanks for being here.chinese school operates under the ccp, xi jinping was an alum of the school and operates in accordance with president xi's hopes, how many red flags does the biden administration need before it keeps playing into the ccp like this. it makes no sense. no, it doesn't. we shouldn't give money to chinese universities or chinese government on taxpayer money. i'm terrified about this. people got to understand, all universities are controlled by ministry of education. they have a secretary, all positions like president, chancellors, are appointed by the party. i think universities should cut off from doing this with china. china has no good record on climate change and their biggest polluter in the world and chinese people are their biggest victims. suffer from pollution and can't protest or damages are covered up by ccp, they don't want the world to see it. >> ashley: you would think the u.s. and biden administration would stay as far from this one as possible. $130,000 is really not that mu

let's take a look at what lilly did.the current list price is $82 per vial, the new list price will be $25 per vial. and so that will mean about $35 per month for people with insurance, and they say they're also going to be sort of moving toward giving that same price to people who actually need the help. those are people who don't have insurance. >> real significant cut. in other more disturbing news, there's news about the rate of colorectal cancer on the rise among young people especially. >> reporter: this is so surprising. i think that doctors who treat colon cancer, if you had asked them years ago how often do you see someone under 55, you know, show up at your office with advanced colon cancer they would say that hardly ever happens. but now they're finding that that's just not true. they're seeing more and more young people show up with colon cancer and with advanced colon cancer. so whe you look at a proportion of colon cancer cases under the age of 55, it was. then in 2019 it was 20%. that is a huge jump during

eli lilly says it will cap the cost of insulin at $35 a month.t change takes effect immediately. it comes after years of pressure to reduce the cost of the life-saving diabetes medication. look at this. until today's announcement, a vial of insulin costs nearly $100 in the united states and a fraction of that in other places, $14 in japan, $7 in australia. rehema ellis is following this story for us and joins us now. we know there's been political pressure to lower the cost of insulin in this country. what do we know about what led to today's decision? >> industry experts say eli lilly sees the writing on the wall. last month the inflation reduction act capped it at $35 for senior citizens. republicans said not for the rest of the folks on private insurance. that did not go over well. we're talking about a drug that's a life-saving drugs. people have been rationing it, skipping doses and sometimes ending up in the hospital or death. this may be a move that ely lilly said if it's necessary, let's do it now. >> what about other providers that make

the new york times reports quote, lilly quoted its decision as a victory for patients.lly smooth summer-limited than they initially prepare. walk us through this announcement, what it really means for patients. >> katie, people said no, insulin is over 100 years old. as a medication, it was developed 100 years ago, and really, it should be available at no two low cost for people with diabetes. we essentially have three insulin manufacturers, including eli lilly, that have a monopoly on insulin. they provide about 90% of the insulin globally and in the united states. so, they are able to hike up the prices for insulin. one, this policy change will impact one of their medications called gilles perot, a type of insulin, short acting, and they will reduce the list price of that. still, the election was a good profit, and put 35 dollar monthly cap on people who have private insurance. so, definitely, this shows what advocacy and legislative action, legislative pressure, rather, can sue, in terms of these insulin manufacturers decreasing their prices. we need those other two

lilly's had a tough year all the pharmaceuticals have had a tough year lilly's down 15%, 20%.ristol-myers is right near a new low. pfizer 39. 0 that is a new low i believe. and johnson & johnson's been a horrible performer issues with the talc litigation for a long time. elsewhere the regional banks you've got a triple whammy here. higher deposit costs for them potentially with higher rates. you've got lower economic activity and you've got very big exposure to commercial real estate. so a lot of the big regional bachkz, pnc 144 that's a new low. signature, m & t, zion, they're within one or two percentage points of a 52-week low. is anything holding up the global industrials are doing very well. ge's been on a tear ever since it spun off the health care division eaton sitting near a new high. rockwell some of the airlines have also been doing well. but that's about it, kelly some of the big global industrials one of the only sectors having any positive momentum back to you. >> that's a great point. bob, thank you meanwhile, the fed being blamed again for the latest sell-off o