3 ms·
> Theoretically, price caps can be set low enough that no one will produce and sell an item. But studies show that the US currently pays as much as 7x what the
by save_ferris 7y ago
> Theoretically, price caps can be set low enough that no one will produce and sell an item.
But studies show that the US currently pays as much as 7x what the UK does for insulin[0]. How can insulin be so cheap in some places but so expensive in others to the point that manufacturers stop making it?
0: https://insulinnation.com/treatment/u-s-pays-much-uk-insulin/ https://insulinnation.com/treatment/u-s-pays-much-uk-insulin...
- vasilipupkin 7y agobecause UK subsidizes it. But UK residents pay 33% of GDP in taxes vs US pays only 27%, according to this https://www.oecd.org/tax/tax-policy/global-revenue-statistics-database.htm https://www.oecd.org/tax/tax-policy/global-revenue-statistic... so it comes out of the higher taxes.
- djpowell 7y agoThose prices have nothing to do with subsidies. It is showing that the NHS pays a fraction of the US prices for the same insulins. Diabetics are exempt from all out-of-pocket prescription charges though, so that part is subsidized.
- AdrianB1 7y agoThen why isn't US buying insulin from UK's suppliers at a fraction of the current price?