5 ms·

It's crazy to me that the patent for insulin was sold for $1 so it would be accessible, and now it's one of the most expensive liquids on the planet. A month's

It's crazy to me that the patent for insulin was sold for $1 so it would be accessible, and now it's one of the most expensive liquids on the planet. A month's supply is around $500 for two little bottles, required for someone with Type I (juvenile) diabetes to stay alive.

isitmadeofglass 4y ago
The patent has expired anyone can make insulin cheaper if they want to. The new drugs on patent (many set to expire in the short term future) are all improvements that greatly improve quality of life for patients which is why they are preferred to just using human insulin.
- 6nf 4y ago
  Why is it so much cheaper in countries other than the USA?
  - s1artibartfast 4y ago
    Higher cost of labor and customers have more money to spend
    - palmetieri2000 4y ago
      Than in Europe, Australia, and the UK? Laughable.
      - s1artibartfast 4y ago
        Why is that laughable, US has a higher median and mean income than nearly all of Europe, Austrialia, and the UK. This means workers cost more and have more.
        palmetieri2000 4y ago
        According to the first google results this is not true for the US and Australian comparison, even after converting AUD to USD the Australian worker makes about $2000 more than the US worker. You also fail to recognize that US workers spend more to achieve similar healthcare outcomes, something highly relevant to this conversation.
    - expazl 4y ago
      Both wrong. Labor costs are high in Europe too, and people have as much money to spend. Also, if that was the reason, American patients would just buy the European products since they where cheaper. Also the drugs sold on the two sides of the Canadian border are produced the same places but sell at much lower prices outside the US. The reason the North American market is so expensive is because of convoluted and honestly just shady practices of middlemen who negotiate on behalf of insurances companies and pharmacies but have a vested interest in pushing the list price as high as possible, but then demanding an insane rebate against those high list prices. During the congressional hearings it was stated that Eli Lilly paid something like 68% in rebates in order to get onto the insurance coverage plans. Also, even though their prices where rising year after year, they took back less and less after rebates where figured in. That means that whenever Eli Lilly sells 100$ worth of insulin, 22$ goes towards research and development, clinical trials, branding, marketing, production and distribution, and then 68$ goes to the pharmacy benefits managers who kick it back to the insurance companies, who then go to their customers and demand a copay as a percentage of the 100$ potentially not even needing to cover anything and just making bank on the drug sales, while charging their customers for the privilege of taking their money.
      - s1artibartfast 4y ago
        I don't necessarily disagree, but was answering from the perspective of generic insulin purchased without insurance. Why is Insulin aspart $70 for 1,000 units at walmart, but much cheaper in India.
pdntspa 4y ago
Isn't Mark Cuban's cost-plus pharmacy company thing working on this too?
anonuser123456 4y ago
Not the same insulin. A months supply of that insulin is 25$ at walmart.
- pyjarrett 4y ago
  Interesting, thanks for the correction. So the human insulin is $25, and the newer analog types of insulin are the super expensive ones.
bart_spoon 4y ago
The insulin the patent was sold for costs about $20 at Walmart. The modern insulin costing $500 is a completely different product. It’s an insulin analogue. It’s not even human insulin, it’s a synthetic compound that provides the same function of insulin, but with a much more efficacy, convenience, and safety. They were developed by the pharma companies in the last few decades, and continue to be iterated and improved on. There are reasons to be concerned about insulin pricing, but this remains a completely wrong and uninformed one. It is the equivalent of expressing shock that a smartphone costs hundreds of dollars when walkie talkies have been around for decades and only cost $20.

isitmadeofglass 4y ago

The patent has expired anyone can make insulin cheaper if they want to. The new drugs on patent (many set to expire in the short term future) are all improvements that greatly improve quality of life for patients which is why they are preferred to just using human insulin.

6nf 4y ago
Why is it so much cheaper in countries other than the USA?
- s1artibartfast 4y ago
  Higher cost of labor and customers have more money to spend
  - palmetieri2000 4y ago
    Than in Europe, Australia, and the UK? Laughable.
    - s1artibartfast 4y ago
      Why is that laughable, US has a higher median and mean income than nearly all of Europe, Austrialia, and the UK. This means workers cost more and have more.
      - palmetieri2000 4y ago
        According to the first google results this is not true for the US and Australian comparison, even after converting AUD to USD the Australian worker makes about $2000 more than the US worker. You also fail to recognize that US workers spend more to achieve similar healthcare outcomes, something highly relevant to this conversation.
  - expazl 4y ago
    Both wrong. Labor costs are high in Europe too, and people have as much money to spend. Also, if that was the reason, American patients would just buy the European products since they where cheaper. Also the drugs sold on the two sides of the Canadian border are produced the same places but sell at much lower prices outside the US. The reason the North American market is so expensive is because of convoluted and honestly just shady practices of middlemen who negotiate on behalf of insurances companies and pharmacies but have a vested interest in pushing the list price as high as possible, but then demanding an insane rebate against those high list prices. During the congressional hearings it was stated that Eli Lilly paid something like 68% in rebates in order to get onto the insurance coverage plans. Also, even though their prices where rising year after year, they took back less and less after rebates where figured in. That means that whenever Eli Lilly sells 100$ worth of insulin, 22$ goes towards research and development, clinical trials, branding, marketing, production and distribution, and then 68$ goes to the pharmacy benefits managers who kick it back to the insurance companies, who then go to their customers and demand a copay as a percentage of the 100$ potentially not even needing to cover anything and just making bank on the drug sales, while charging their customers for the privilege of taking their money.
    - s1artibartfast 4y ago
      I don't necessarily disagree, but was answering from the perspective of generic insulin purchased without insurance. Why is Insulin aspart $70 for 1,000 units at walmart, but much cheaper in India.

pdntspa 4y ago

Isn't Mark Cuban's cost-plus pharmacy company thing working on this too?

anonuser123456 4y ago

Not the same insulin. A months supply of that insulin is 25$ at walmart.

pyjarrett 4y ago
Interesting, thanks for the correction. So the human insulin is $25, and the newer analog types of insulin are the super expensive ones.

bart_spoon 4y ago

The insulin the patent was sold for costs about $20 at Walmart. The modern insulin costing $500 is a completely different product. It’s an insulin analogue. It’s not even human insulin, it’s a synthetic compound that provides the same function of insulin, but with a much more efficacy, convenience, and safety. They were developed by the pharma companies in the last few decades, and continue to be iterated and improved on. There are reasons to be concerned about insulin pricing, but this remains a completely wrong and uninformed one. It is the equivalent of expressing shock that a smartphone costs hundreds of dollars when walkie talkies have been around for decades and only cost $20.