Pharmaceutical company Eli Lilly announced on March 1 that it would cut the cost of its insulin at retail pharmacies by 70 percent. That's for patients with or without insurance.

Eli Lilly is one of three pharmaceutical companies that supply insulin in the U.S.

For years, people in the U.S. who are insulin-dependent have had to ration their insulin or drive to Canada or Mexico to afford it. The patent to insulin was initially sold for $1.

We discuss insulin prices in the U.S. have skyrocketed over the years and how much Eli Lilly's decision affect people across the country.

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