Good morning. Welcome to Axios today. It's Thursday, March 2nd. I'm Nailibutu.

Here's what we're covering. The FAA investigates more near collisions at U.S. airports,

and TikTok sets limits for its youngest users. But first, one drug maker cuts insulin costs.

What that could mean for future drug price fights. That's our one big thing.

Pharmaceutical giant Eli Lilly announced yesterday at slashing the price of insulin

and capping out of pocket costs for patients at $35 a month at most retail pharmacies.

The company says the generic insulin list pro will now cost less than it did in 1999.

The move comes after Eli Lilly faced criticism from both the Biden administration and consumers

for years of price hikes. Axios's senior healthcare editor,

Adriel Betoheim has more. Hi, Adriel. Hi, nice to be with you.

Adriel, the exorbitant price of insulin has been a hardship on many patients for years.

What finally pushed Eli Lilly to decrease their prices?

Well, there's been a drum beat of calls most recently, President Biden in the state of the

Union address, but efforts in Congress to to to cap out of pocket insulin costs. And last year,

the Democrats succeeded in the inflation reduction act by capping it at $35 a month out of pocket

for Medicare recipients. But now the push is to extend it further to the commercial market.

So I think they kind of took stock of which way the the winds are blowing and these many,

you know, studies showing that more than a million American adults are rationing insulin because

of a tie costs. And I think they decided this was the time to make a concession.

Are other insulin producers expected to follow suit?

We haven't heard yet. Sonofi and Novo Nordisk are the two other big ones in this country with

Eli Lilly. They are said to control about 90% of the market. So Biden and others on Capitol Hill

...