Eli Lilly says he will lower the price of insulin

The company said it would cap the monthly cost of the diabetes drug at $35.

Eli Lilly and Company announced Wednesday that it will reduce the price of its most commonly prescribed insulins and expand a program that caps monthly patient spending at $35 or less.

He said the company was taking steps to "help Americans who may have difficulty navigating a complex health care system that could prevent them from getting affordable insulin."

Insulin, a life-saving medication that is usually taken daily, has become increasingly expensive in recent years, and many diabetes patients are rationing their medications or stopping them due to cost . More than 30 million Americans live with diabetes.

This comes after years of mounting criticism from Americans who said the drug should be more accessible. Critics have led to lawsuits and legislation.

This is a developing story. Check back for updates.