The waning pricing power of consumer-goods makers contrasts with carmakers and airlines, which have been able to push prices up due to limited supply and pent-up demand.

Julie Su’s nomination drew swift support from Democrats on Capitol Hill, with Senate Majority Leader Chuck Schumer saying Tuesday that she would be ‘phenomenal’ in the job.

Eli Lilly said it will cut the list prices for its most commonly prescribed insulin and for another insulin by 70% or more in the 4th quarter, which starts in October.