3 ms·

Thanks to the current administration and the government of California's program to manufacture and sell Insulin at cost, the preexisting monopoly is forced to l

Thanks to the current administration and the government of California's program to manufacture and sell Insulin at cost, the preexisting monopoly is forced to lower their prices. They are not doing this out of the goodness of their hearts.

LargeTomato 3y ago
> By cutting the list prices for Humalog and Humulin, Eli Lilly could avoid having to pay an additional $430 million in Medicaid rebates in 2024 It seems like there's more to it but I'm not sure.
refurb 3y ago
This has nothing to do with California's program at all. I'm not even sure they've started and I highly doubt it'll be successful. California can't produce the new patented insulins, so they'll be forced to produce older versions that don't work as well. This was an agreement between manufacturers and the government to guarantee a $35 co-pay for insulin.
- solarkraft 3y ago
  Before the agreement came a negotiation and it seems like the threat of doing the aforementioned thing may have been useful for that.
  - refurb 3y ago
    Not really because California isn't producing the most profitable insulins.
    - stvltvs 3y ago
      Governments don't need to be profitable.
      - klooney 3y ago
        It's the undesirable kind of insulin you can already get cheaply from Walmart though.
      - refurb 3y ago
        Let me restate that - California isn't producing the insulins that people want.
ImJamal 3y ago
Surely this is an expansion of the previous administration forcing $35 insulin? https://www.cms.gov/newsroom/press-releases/president-trump-announces-lower-out-pocket-insulin-costs-medicares-seniors https://www.cms.gov/newsroom/press-releases/president-trump-...
- fuzzylightbulb 3y ago
  The recent news is leaps and bounds beyond the token efforts by the previous administration. https://apnews.com/article/fact-checking-845638742817 https://apnews.com/article/fact-checking-845638742817 [ Separately, the Trump administration implemented a program in which some Medicare Part D and Medicare Advantage plans voluntarily set the maximum copay for insulin at $35 per month. However, not all insulin products are necessarily covered by the plans that participate. It also does not affect costs for people who are uninsured or have other coverage. That program remains in place, and Cubanski pointed out that the Biden administration supported expanding that initiative. A provision under the idling Build Back Better Act would have applied it to private insurers, for example. That legislation also proposed allowing Medicare to negotiate the prices of certain drugs, including insulin. ]

LargeTomato 3y ago

> By cutting the list prices for Humalog and Humulin, Eli Lilly could avoid having to pay an additional $430 million in Medicaid rebates in 2024 It seems like there's more to it but I'm not sure.

refurb 3y ago

This has nothing to do with California's program at all. I'm not even sure they've started and I highly doubt it'll be successful. California can't produce the new patented insulins, so they'll be forced to produce older versions that don't work as well. This was an agreement between manufacturers and the government to guarantee a $35 co-pay for insulin.

solarkraft 3y ago
Before the agreement came a negotiation and it seems like the threat of doing the aforementioned thing may have been useful for that.
- refurb 3y ago
  Not really because California isn't producing the most profitable insulins.
  - stvltvs 3y ago
    Governments don't need to be profitable.
    - klooney 3y ago
      It's the undesirable kind of insulin you can already get cheaply from Walmart though.
    - refurb 3y ago
      Let me restate that - California isn't producing the insulins that people want.

ImJamal 3y ago

Surely this is an expansion of the previous administration forcing $35 insulin? https://www.cms.gov/newsroom/press-releases/president-trump-announces-lower-out-pocket-insulin-costs-medicares-seniors https://www.cms.gov/newsroom/press-releases/president-trump-...

fuzzylightbulb 3y ago
The recent news is leaps and bounds beyond the token efforts by the previous administration. https://apnews.com/article/fact-checking-845638742817 https://apnews.com/article/fact-checking-845638742817 [ Separately, the Trump administration implemented a program in which some Medicare Part D and Medicare Advantage plans voluntarily set the maximum copay for insulin at $35 per month. However, not all insulin products are necessarily covered by the plans that participate. It also does not affect costs for people who are uninsured or have other coverage. That program remains in place, and Cubanski pointed out that the Biden administration supported expanding that initiative. A provision under the idling Build Back Better Act would have applied it to private insurers, for example. That legislation also proposed allowing Medicare to negotiate the prices of certain drugs, including insulin. ]