Eli Lilly said Tuesday that it will limit the out-of-pocket cost of insulin to $35 per month.
The move comes in response to offset the financial hardships due to the coronavirus pandemic.
The co-pay cap will cover the majority of the pharmaceutical company's insulin, including the humalog injection.
The program is open to the uninsured as well as commercially insured people with type 1 diabetes, but the pharmaceutical company said it is not available to Medicaid, Medicare or Medicare Part D patients.
The savings can be obtained by calling the diabetes solution center toll-free line.
Insulin prices spiked nearly 100% from 2012 to 2016. Diabetic patients with high deductible insurance plans ended up paying thousands of dollars per year.
Insulin manufacturers, including Eli Lilly, Sanofi and Novo Nordisk, received harsh criticism for the pricing increases.
Eli Lilly said it is exploring extending the cost reduction beyond the pandemic crisis.