Senate Democrats are trying to rein in the cost of insulin with their social spending bill, which would increase spending by $739 billion.
The A 100-year-old drug prices have tripled over the past two decades, forcing diabetics to pay thousands of dollars a year or per ration.
And cost containment for insulin may continue to grow as more Americans use the treatment.
A Analysis by the Congressional Budget Office A bill proposed earlier this year estimated that the insulin cap would cost about $23 billion over the next decade.
According to the American Diabetes Association, about 11% of Americans have diabetes. Of these, approximately 8.4 million are on insulin, and one million of them are on life-saving medication.
“People need insulin, it’s not an option, and no one should have to decide whether to use life-sustaining drugs, food, or rent,” Dr. Robert Gabbay.
The cost of insulin varies depending on health care services.
People with private health insurance can pay hundreds of dollars a month. Most Medicare beneficiaries pay $54 per prescription. Others live in one of 22 states that pay between $25 and $100 for a 30-day supply, according to the Associated Press.
Eli Lilly, Novo Nordisck and Sanofi are the only insulin manufacturers that allow them to control a large share of the market.
|Ticker||Security||The last one||Change||Change %|
|LLY||ELI LILLY & CO.||300.92||-4.87||-1.59%|
|NGOs||NOVO NORDISK A/S||102.86||-1.68||-1.60%|
“Historically, they increase the list prices of their respective products without considering each other,” University of Pittsburgh professor of medicine Dr. Jing Luo. “There hasn’t been a lot of pricing pressure.”
According to Luo, a generic for insulin has not yet been produced due to regulatory hurdles and questions about drug classification.
Several attempts to lower insulin prices have failed in the Senate. Democrats previously tried to cap the price of insulin at $35 in the Build Back Better bill. Just recently, Sens. Jeanne Shaheen and Susan Collins is co-sponsoring a bill to lower the cost of insulin to $35 a month.
“If your health insurance company says that voluntarily no one who buys insulin under our plan will have to pay more than $25, the question is who pays the rest of that?” Luo told the Associated Press. “That means they’re going to go up in price, which means they’re going to raise premiums for everybody.”