More Americans with diabetes will get a break on their insulin costs in 2024.
Sanofi is joining the nation’s two other major insulin manufacturers in offering either price caps or savings programs that lower the cost of the drugs to $35 for many patients. The three drugmakers are also drastically lowering the list prices for their products.
The moves were announced in the spring, but some didn’t take effect until January 1.
Drugmakers have come under fire for years for steeply raising the price of insulin, which is relatively inexpensive to produce. The inflation-adjusted cost of the medication has increased 24% between 2017 and 2022, and spending on insulin has tripled in the past decade to $22.3 billion in 2022, according to the American Diabetes Association.
Some 8.4 million Americans rely on insulin to survive, and as many as 1 in 4 patients have been unable to afford their medicine, leading them to ration doses – sometimes with fatal ramifications, according to the association.
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The time, effort, and resources could be handled by a public industry that produces a public good. There’s no reason for it to be privatized.
It can absolutely be privatised as long as some government body handles negotiations.
Letting the private sector compete for public contracts can often reduce prices and make production more efficient. It needs to be handled well of course.
It works pretty well here. The government negotiate the prices for medication to reasonable levels and every individual has a medication price cap that gradually reduces the price for medication until they are completely free (fully subsidised). After 12 months the price cap resets and the prices go up to normal. The price cap is set at ≈230 EUR.
Apparently insulin is always free and so are some other stuff.
Obviously this only applies to prescriptions.
IMO a great system is a mix of both a strong private sector and a strong public sector with non corrupt governmental oversight.
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I mean, we could just wish for a unicorn pony that shits glitter and barfs rainbows while we’re at it.
Oh so you mean literally what I said in my original comment?
IMO a great system would be to round up the executives, board members, district heads, and shareholders into work camps. 😘
Did you miss the part where I disagreed with you, lol?
You said that it has to be handled by exclusively the public sector and I said that it doesn’t. And I said that here we have accomplished a great system without that.
Can you not imagine the system being better than it is right now?
It works great. Could you explain how it could be better? Seems like a terrible idea to just change things with no evidence that it would improve things.
The entire healthcare system could use a rework but there is nothing wrong with this system in particular.
Profit serves no function and could be removed from the system entirely. You’re just scared of change because you are a conservative.
Lol, no I am not a conservative. I just want to see evidence.
A system without profit is way too fragile because of corruption.
A fully communist system won’t ever work because humans are human and they suck ass.
It’s amazing that you seem to think for profit systems aren’t corrupt lol
Yes we are familiar with your barely-concealed desire to kill people. What we’re trying to discuss is more of a help-poor-people thing, than it is a hurt-rich-people thing.
What? No! They should never be allowed to die. 🤭
They have accumulated an incredible debt to society that they must pay back, no matter how long it takes! 😉
could be, in a fantasyland where all people do things out of pure altruism and always put the good of others ahead of their own self-interest.
I used to believe people could be this way too. Then I turned 8.
If public libraries were proposed today you would oppose them as fantasyland nonsense.
In the real world, public works work.