They're doing it because California is working to make their own. They don't want faily priced competition or actual drug pricing regulation which is being threatened. They're volunteering to drop prices until the competition gives up and regulators get bribed out of office.

Kind of wondering if this is a freebie just because they're going to be pushing anyone who can afford it to their GLP-1 drugs like Wegovy and Mounjaro (or the equivalent for diabetes alone, as these are the brand names for their obesity drugs) and everyone who can't afford it is probably eligible for Medicaid where the price is going to be capped anyway.