NBC NEWS: Why is insulin still so expensive for diabetes patients in the U.S.?

Why is insulin still so expensive for diabetes patients in the U.S.?
More than 1 in ten patients who use insulin report spending a significant portion of their income on the drug.

Read in NBC News: https://apple.news/ADlw1o2RyQimThSYUnrtKjg

Shared from Apple News

Sent from my iPad,Best wishes and Hugs,
Scottie

5 thoughts on “NBC NEWS: Why is insulin still so expensive for diabetes patients in the U.S.?

    1. Hello Keith. Sorry but I have to disagree with you. Katie Porter in a hearing with a pharmaceutical company CEO broke down how much the drug com made and how much went for research. After she broke down all the costs and profits development and research was a miniscule amount compared the bonuses and salaries of the officers of the company and huge amount of money spent on stock buy backs. Plus a lot of the drug research is conducted in government sponsored labs, by the drug companies themselves. I will link the video below. Hugs

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      1. Scottie, if that were true, why are prices cheaper elsewhere? I would truly like to see a better accounting. These folks are inventing pills right and left to sell as add-ons for daily intake. That is how they make money. Maybe they are hiding this in marketing costs? Pricing of drugs is a very complicated mess that many, including those in the business don’t fully understand. I am not saying you are wrong, I would just want to know more. I do know there are too many examples where a 90 day supply in the US is $1,600, while in Canada and Australia it is $750. Keith

        Liked by 1 person

        1. Hello Keith. Why are drug prices cheaper elsewhere? Because other countries allow the health services / government to negotiate prices and set costs. In the US Medicare / Medicaid is blocked from doing that by law. The reason it costs less in Canada is the government doesn’t let companies price gouge the people.

          Prescription drug prices in the U.S. are more than 250% times higher overall than those in 32 other countries, according to a new report from the RAND Corporation.

          So the reason is why. Profits. Profit is king in the US! Unrestrained capitalism creates great profit is the moto of the US. Other countries regulate their capitalism so while a profit can be made it doesn’t harm the people. Here our government doesn’t care about the people, they care about the companies that donate to them which demand more profit. I keep an EpiPen handy, I have life threatening allergies. I had to stop getting them for a while when the price took a huge increase. When Senator Manchin’s daughter was CEO of the company that made the EpiPen, she worked with a competitor to jack the price up 550% to over $600 dollars a set. The costs of making the pens did not increase, but the extra profit earned her a huge bonus of nearly 2 million dollars and a going away gift of 20 million. The companies worked together to jack the price of a lifesaving medication simply for more profit and more money for the company leaders. But it put my life in danger Ever hear of the Pharma Bro Martin Shkreli? He bought the rights to a drug that costs pennies to make, again a needed drug to save lives, and bragged how he jacked the price up from $13.50 to $750 per pill just to make more money. It was a decades old drug, no new changes or costs, he just wanted more profit. That Keith is why drugs costs are so high in the US. When I googled why do drugs cost more in the us? The answer comes back to what I said at the start. “The U.S. does not directly regulate or negotiate the price of drugs” Profit over people the Republican / corporate Democrat way Hugs

          Liked by 1 person

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