Eli Lilly ($LLY@US) will cut prices for Humalog and Humulin, two of its most commonly prescribed insulin products, by 70 percent. The new prices will go into effect in the fourth quarter. The pharmaceutical company said that effective May 1st, it would reduce the list price of an unbranded insulin it sells to $25 a vial from $82 a vial and plans to improve a program capping patients’ out-of-pocket costs at $35 a month. The cost of insulin skyrocketed during the 2010s. In recent years some U.S. states have enacted insulin-cost caps, and the Inflation Reduction Act mandated that patients covered by the federal Medicare health-insurance program should pay no more than $35 per month in copays for an insulin prescription.