Eli Lilly & Co. said Tuesday it's cutting the price of single-dose vials of its Zepbound treatment for diabetes and obesity for patients who have to pay themselves, and will be adding two new doses.

The company is launching 7.5-milligram single-dose vials for $499 a month and 10-milligram single-dose vials for $499 a month.

The drug giant $(LLY)$ is also reducing the price of 2.5-milligram and 5-milligram vials of Zepbound, which has become highly popular with patients but has also been criticized for its high cost.

Lilly said it would lower the price of the 2.5-milligram dose to $349 a month and cut the price of the 5-milligram dose to $499 a month.

"Every major medical organization and establishment recognizes obesity as a chronic disease, yet insurance and federal programs do not systematically cover people living with obesity for medical care - this needs to change," said Patrik Jonsson, executive vice president and president of Lilly Cardiometabolic Health and Lilly USA.

The company's 7.5-milligram and 10-milligram doses come with refills that come within 45 days of prior delivery.

Lilly's stock was up 1.8% premarket.

The head of the Obesity Action Coalition praised the move and Lilly for "improving the affordability of obesity treatment."

Zepbound is currently available in doses up to 12.5 milligrams and 15.0 milligrams per 0.5-milliliter doses in a single-dose pen, or autoinjector. The recommended maintenance doses are for 5 milligrams, 10 milligrams or 15 milligrams, injected once weekly.

Patients starting the treatment are offered 2.5 milligrams for four weeks before increasing the dosage to 5 milligrams.

Zepbound is one of a new class of drugs called GLP-1 receptor agonist medications, which work by mimicking the effect of a gut hormone that reduces appetite.

Lilly, and Danish rival Novo Nordisk $(NVO)$ (DK:NOVO.B), are leaders in the field, though many other companies are also racing to develop therapies, including an oral version that would be far easier to administer than the current injectables.

Lilly's stock has gained 14.5% in the last 12 months, while the S&P 500 SPX has gained 17.6%.