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I said insulin and meant insulin. Insulin prices have skyrocketed over the last decades beyond any point of comparison without any significant change in the qua
by kevingadd 8y ago
I said insulin and meant insulin. Insulin prices have skyrocketed over the last decades beyond any point of comparison without any significant change in the quality or manufacturing process.
As you say though, this is not true of all drug pricing. However, given we're talking about insulin pumps for diabetics, it's reasonable to assume they'd be priced based on the same philosophy as insulin, no?
- Bartweiss 8y agoShkreli is a gaudy distraction, the same way Jordan Belfort was a gaudy distraction from much quieter fraud and mislabeled risk. You're absolutely right to focus on insulin. In addition to the obvious relevance to diabetes pumps, it's the perfect example of how pricing isn't based on high costs of drug discovery or manufacturing. The basic market pattern people expect still holds: newer formulations cost more than older ones. It's just that the older formulations never get cheaper; contrary to all economic logic, their (constant-dollar) prices have risen over time. That doesn't bode well for any other step in the diabetes management process.