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Insulin Prices Could Be Much Lower and Drug Makers Would Still Make Healthy Profits

If you or someone you know is struggling to pay for your lifesaving insulin, a new study suggests that insulin costs could be rolled back considerably, and manufacturers would still make a respectable profit, Stat reports. In dollars and cents, this means that Type 1 diabetics should be able to pay under $100 year for all the insulin they need — as opposed to the $1,251 you’re paying now if you live in the U.S.

You may remember the pricing fiasco with lifesaving EpiPens, which people with allergies to food, insect stings and more keep with them at all times in the event they suffer an anaphylactic reaction. EpiPen prices came under scrutiny in 2016 after Mylan hiked the price 461 percent over an eight-year period — while at the same time their CEO enjoyed a 671 percent increase in total compensation, from just under $2.5 million in 2007 to nearly $19 million in 2015.

Like Mylan did, drug makers accused of overpricing their products like this try to downplay outrageous costs by saying that most patients have insurance coverage and that they also offer coupons to help reduce copayments — as if there’s absolutely nothing wrong with price-gouging you through your insurance company.

If you need another example of how twisted the system is, look no further than Purdue Pharma and the Sackler family, which systematically created the opioid crisis by promoting their product, OxyContin — and now plan to triple dip into the profits by not only creating a generic opioid to compete with their own name brand, but a treatment drug to address the addiction that their name brand and generic cause.

Add this and the price-gouging to the illegal kickbacks and sponsorships the companies use to promote their products through public health programs, doctors, nurses and other health professionals, and you have a very sick system, indeed. And it’s all at the cost of your health.

 

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