> Obviously this means a bunch of drug companies went out of business or stopped producing insulin If they invested the money they've earned by selling insulin

> Obviously this means a bunch of drug companies went out of business or stopped producing insulin If they invested the money they've earned by selling insulin at very high margins for many years into research (as drug companies usually claim), then they should be fine. If their business model depended solely on selling a single product and enjoying the margins, then it's good for the society. Someone else can produce it.