"Insulin prices have been way out of preportion! But, luckily, Eli Lily and other insulin marketers have lowered their prices and Joe biden expects to see many more drop their prices for insulin." -Ruby deetz, 6th grade
Up until recently, insulin prices have been through the roof, making it not easily accessible for most American citizens with diabetes. This has become a huge issue for the 37.3 million Americans with diabetes. That’s 11.3% of the country's population!
On Tuesday of March 14, 2023, The companies Eli Lilly, Novo Nordisk and Sanofi, who supply 90% of the U.S. insulin market, announced that all insulin will be capped to $35 a vial for most users.
Hunter Sego, a 26 year-old from Indiana, had been spending around $660 a month on insulin from the drugmaker, Eli Lilly. “This is going to be absolutely massive,” Sego, who has type 1 diabetes, said. But his mother, Kathy, only wishes it had happened a couple of years sooner. Around 2016, Sego began rationing his insulin because he couldn’t afford the high cost of the medication. He eventually developed diabetic ketoacidosis, a life-threatening condition. “I am thankful that they’ve all come to their senses,” his mother said, referring to insulin manufacturers, “But I keep thinking, ‘What’s the catch?’”
On Tuesday of March 14, 2023, The companies Eli Lilly, Novo Nordisk and Sanofi, who supply 90% of the U.S. insulin market, announced that all insulin will be capped to $35 a vial for most users.
Hunter Sego, a 26 year-old from Indiana, had been spending around $660 a month on insulin from the drugmaker, Eli Lilly. “This is going to be absolutely massive,” Sego, who has type 1 diabetes, said. But his mother, Kathy, only wishes it had happened a couple of years sooner. Around 2016, Sego began rationing his insulin because he couldn’t afford the high cost of the medication. He eventually developed diabetic ketoacidosis, a life-threatening condition. “I am thankful that they’ve all come to their senses,” his mother said, referring to insulin manufacturers, “But I keep thinking, ‘What’s the catch?’”
The price cap of $35 a month for insulin was originally only meant for seniors with diabetes, but with millions of others relying on the drug, Joe Biden, along with lawmakers and advocacy groups, called on drug companies to lower the cost of insulin for everyone. "For far too long, American families have been crushed by drug costs many times higher than what people in other countries are charged for the same prescriptions. Insulin costs less than $10 to make, but Americans are sometimes forced to pay over $300 for it. It's flat wrong," Biden said in a statement on Wednesday March 1st, 2023.
More than 50% of insulin users with employer-based insurance spent over $35 out-of-pocket on average for a 30-day supply of insulin in 2019 and 2020, according to the Health Care Cost Institute, a nonprofit group that tracks drug prices. About 5% of them spent more than $200. Some people may pay even more. With this kind of price drop, it will be sure to change peoples lives for the better without having to worry so much about the cost of insulin.
But why do people with diabetes need insulin? What can our bodies do that theirs can’t? Well, People with type 1 diabetes have malfunctioning or absent beta cells, so the hormones insulin and amylin are missing and the hormone GLP1 cannot work properly. This might explain, in part, why individuals with diabetes do not suppress glucagon during a meal and have high blood sugars after eating. Very high blood sugar levels can cause life-threatening complications, such as: diabetic ketoacidosis (DKA) – a condition caused by the body needing to break down fat as a source of energy, which can lead to a diabetic coma. This tends to affect people with type 1 diabetes.
Eli Lilly’s current list price is $82.41 for a vial. Eli Lilly says it will cut the list price of its non-branded insulin to $25 a vial as of May 1st, making it the lowest list-priced mealtime insulin available and much more accessible to those with diabetes.
The drug industry is corrupt and overcharges for many forms of medication, not just insulin. Hopefully other drug marketers will follow in Eli Lilly, Novo Nordisk and Sanofi’s footsteps and lower high drug prices.
More than 50% of insulin users with employer-based insurance spent over $35 out-of-pocket on average for a 30-day supply of insulin in 2019 and 2020, according to the Health Care Cost Institute, a nonprofit group that tracks drug prices. About 5% of them spent more than $200. Some people may pay even more. With this kind of price drop, it will be sure to change peoples lives for the better without having to worry so much about the cost of insulin.
But why do people with diabetes need insulin? What can our bodies do that theirs can’t? Well, People with type 1 diabetes have malfunctioning or absent beta cells, so the hormones insulin and amylin are missing and the hormone GLP1 cannot work properly. This might explain, in part, why individuals with diabetes do not suppress glucagon during a meal and have high blood sugars after eating. Very high blood sugar levels can cause life-threatening complications, such as: diabetic ketoacidosis (DKA) – a condition caused by the body needing to break down fat as a source of energy, which can lead to a diabetic coma. This tends to affect people with type 1 diabetes.
Eli Lilly’s current list price is $82.41 for a vial. Eli Lilly says it will cut the list price of its non-branded insulin to $25 a vial as of May 1st, making it the lowest list-priced mealtime insulin available and much more accessible to those with diabetes.
The drug industry is corrupt and overcharges for many forms of medication, not just insulin. Hopefully other drug marketers will follow in Eli Lilly, Novo Nordisk and Sanofi’s footsteps and lower high drug prices.
