On rising insulin prices, lawmaker tells pharma execs: ‘Your days are numbered’
5 years, 9 months ago

On rising insulin prices, lawmaker tells pharma execs: ‘Your days are numbered’

CNN  

CNN — Lawmakers tensed with frustration, some clenching their jaws, while grilling a panel of pharmacy and pharmaceutical company executives about the soaring cost of insulin during a congressional hearing on Wednesday. Ahead of Wednesday’s hearing, pharmaceutical company Sanofi announced plans to reduce the price of insulin for qualifying patients to $99 a month for up to 10 boxes of pens or 10-milliliter vials. US Senate Finance Committee Chairman Chuck Grassley of Iowa, who helped launch a bipartisan investigation into insulin prices in February, called the move “a step in the right direction” in a written statement Wednesday. That’s not how a functioning marketplace works.” Health insurer Cigna said last week that it’s launching a program that will cap out-of-pocket expenses at $25 for a 30-day supply of insulin. “In most cases, people who use insulin will see lower out-of-pocket costs without any increased cost to the plan,” the company said.

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History of this topic

Feds sue pharmacy gatekeepers over high insulin costs
3 months, 3 weeks ago

Feds sue pharmacy gatekeepers over high insulin costs

Politico  

The action is just the latest government effort to take aim at high drug costs in the U.S., where patients and insurers spend more on medicine than other countries. “The FTC’s administrative action seeks to put an end to the Big Three PBMs’ exploitative conduct and marks an important step in fixing a broken system — a fix that could …

Biden sees a $35 price cap for insulin as a pivotal campaign issue. It’s not that clear-cut
8 months, 3 weeks ago

Biden sees a $35 price cap for insulin as a pivotal campaign issue. It’s not that clear-cut

Associated Press  

WASHINGTON — Rarely a day goes without President Joe Biden mentioning insulin prices. “It is about political signaling in a campaign much more than it is about demonstrating for people that they benefit from the insulin cap,” said Drew Altman, president and CEO of KFF, a nonprofit that researches health care issues. There are a lot of people who don’t …

California, drugmaker partner to produce affordable insulin
1 year, 9 months ago

California, drugmaker partner to produce affordable insulin

Associated Press  

DOWNEY, Calif. — The state of California and a generic drug manufacturer announced a 10-year partnership Saturday to produce affordable, state-branded insulin that they hope will rival longtime producers and push down prices for a medication used by millions of Americans. Newsom said a 10- milliliter vial of the state-branded insulin would sell for $30, but it’s possible competitors could …

California, drugmaker partner to produce affordable insulin
1 year, 9 months ago

California, drugmaker partner to produce affordable insulin

The Independent  

Sign up for the daily Inside Washington email for exclusive US coverage and analysis sent to your inbox Get our free Inside Washington email Get our free Inside Washington email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy The state of California and a generic drug manufacturer announced …

Column: Eli Lilly is slashing insulin prices, but hold your applause
1 year, 9 months ago

Column: Eli Lilly is slashing insulin prices, but hold your applause

LA Times  

Indianapolis-based Eli Lilly & Co. announced a price cut on insulin this month, but it’s not all that it seems. The big drug company said its action was all about helping diabetes patients, its goal being to “help Americans who may have difficulty navigating a complex healthcare system that may keep them from getting affordable insulin.” According to Lilly Chairman …

Novo Nordisk to slash insulin drug for diabetes price by up to 75%
1 year, 10 months ago

Novo Nordisk to slash insulin drug for diabetes price by up to 75%

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Novo Nordisk will start slashing …

Lilly plans to slash some insulin prices, expand cost cap
1 year, 10 months ago

Lilly plans to slash some insulin prices, expand cost cap

Associated Press  

Eli Lilly will cut prices for some older insulins later this year and immediately give more patients access to a cap on the costs they pay to fill prescriptions. Lilly said it will cut the list prices for its most commonly prescribed insulin, Humalog, and for another insulin, Humulin, by 70% or more in the fourth quarter, which starts in …

Insulin used to be affordable — and then, seemingly out of nowhere, it wasn't. Why?
2 years, 2 months ago

Insulin used to be affordable — and then, seemingly out of nowhere, it wasn't. Why?

Salon  

Ever since billionaire Elon Musk bought Twitter — arguably the world's most powerful social media platform — observers predicted that his radical changes would have significant real-world consequences. Related Republicans block insulin price cap for private insurance in Inflation Reduction Act When inventor Frederick Banting discovered insulin in 1923, he famously refused to profit off of it. "The entire reason …

EXPLAINER: Why is insulin so expensive and difficult to cap?
2 years, 5 months ago

EXPLAINER: Why is insulin so expensive and difficult to cap?

Associated Press  

Washington — Reining in the soaring prices of insulin has thus far been elusive in Congress, although Democrats say they’ll try again — as part of their economic package that focuses on health and climate. Democrats are considering capping the cost of that drug for at least some, although it’s unclear what the final proposal will look like and how …

Dr. Oz invests up to $715,000 in companies he blames for skyrocketing insulin costs
2 years, 6 months ago

Dr. Oz invests up to $715,000 in companies he blames for skyrocketing insulin costs

Salon  

Dr. Mehmet Oz, the Republican nominee in Pennsylvania's crucial U.S. Senate race, has repeatedly criticized pharmaceutical companies blamed for the rising cost of insulin — but his recent financial disclosure shows that he has invested up to $715,000 in exactly those companies. RELATED: As Big Pharma jacks up prices, Dems worry their failure will cost seats this fall The rising …

California aims to slash insulin prices and challenge Big Pharma. Can it succeed?
2 years, 7 months ago

California aims to slash insulin prices and challenge Big Pharma. Can it succeed?

LA Times  

Diabetes patient Adam Winney of Van Nuys is seen with samples of fast-acting insulin that he received from his doctor in August of 2020. Newsom is asking state lawmakers to pump $100 million into an ambitious initiative to launch California’s generic drug label, CalRx, and begin producing insulin in the next few years, said Alex Stack, a Newsom spokesperson. He …

Rising Insulin Cost Leading to Non-Compliance in Diabetics, Cheaper Options May Improve Access: Study
2 years, 7 months ago

Rising Insulin Cost Leading to Non-Compliance in Diabetics, Cheaper Options May Improve Access: Study

News 18  

Rising cost of insulin has been resulting in non-compliance in patients with diabetes mellitus, finds an Indian study published in the journal Science Direct. While rising cost of insulin poses a challenge in controlling the disease, the study said the introduction of biosimilar insulin has enabled wider access of insulin with a reduced price of about 20%-40%. “The aim of …

Paracetamol, Insulin Injections, 800 Essential Medicines to Get Costlier from this Month
2 years, 9 months ago

Paracetamol, Insulin Injections, 800 Essential Medicines to Get Costlier from this Month

News 18  

After the National Pharmaceutical Pricing Authority stating that the annual change in Wholesale Price Index works out as 10.76 per cent, the prices of about 800 essential medicines such as paracetamol, azithromycin and ciprofloxacin hydrochloride are likely to see a sharp rise. In a tweet, the NPPA had said, “To make it possible for every Indian to afford medical treatment …

House passes $35-a-month insulin cap as Dems seek wider bill
2 years, 9 months ago

House passes $35-a-month insulin cap as Dems seek wider bill

Associated Press  

WASHINGTON — The House has passed a bill capping the monthly cost of insulin at $35 for insured patients, part of an election-year push by Democrats for price curbs on prescription drugs at a time of rising inflation. Experts say the legislation, which passed 232-193 Thursday, would provide significant relief for privately insured patients with skimpier plans and for Medicare …

Your Crocin, condoms and other drugs will get costlier from 1 April: Here's why
2 years, 9 months ago

Your Crocin, condoms and other drugs will get costlier from 1 April: Here's why

Firstpost  

The national drug pricing body recently announced an annual change of 10.76 per cent in the Wholesale Price Index for over 800 scheduled drugs and medical devices. Last Friday, India’s drug pricing authority allowed a price hike of 10.7 per cent for scheduled drugs, which are under price control. Bitter pill of hiked prices In an order dated 25 March, …

Walmart launches low-priced own brand analog insulin in US
3 years, 6 months ago

Walmart launches low-priced own brand analog insulin in US

Al Jazeera  

The world’s largest retailer is offering affordable insulin drugs for millions of Americans living with diabetes. Walmart announced on Tuesday the launch of its first-ever private brand analog insulin in its United States pharmacies – a move the world’s largest retailer says could help its millions of US customers living with diabetes cope with the blistering price of prescription drugs. …

Bernie Sanders buys cheaper insulin from Canada, accuses US pharma companies of letting diabetic people 'die out of greed'
5 years, 5 months ago

Bernie Sanders buys cheaper insulin from Canada, accuses US pharma companies of letting diabetic people 'die out of greed'

Firstpost  

Presidential candidate Bernie Sanders accused American pharmaceutical companies of letting diabetic patients die out of ‘greed,’ after he accompanied a group of Americans to Canada to buy insulin. Montreal: Presidential candidate Bernie Sanders accused American pharmaceutical companies on Sunday of letting diabetic patients die out of “greed,” after he accompanied a group of Americans to Canada to buy insulin. “How …

Eli Lilly’s lower-priced insulin goes on sale amid drug price debate
5 years, 7 months ago

Eli Lilly’s lower-priced insulin goes on sale amid drug price debate

CNN  

CNN — A cheaper generic version of the rapid-acting insulin Humalog has hit the market, according to a statement Wednesday by drugmaker Eli Lilly. Mike Mason, senior vice president of connected care and insulins at Eli Lilly, said it’s one way the company hopes to lower insulin costs “until a more sustainable solution is achieved.” Members of Congress have grilled …

New insulin price won’t top $25 a month out-of-pocket, Cigna says
5 years, 9 months ago

New insulin price won’t top $25 a month out-of-pocket, Cigna says

CNN  

CNN — Health insurer Cigna is launching a program that will cap out-of-pocket expenses at $25 for a 30-day supply of insulin, the company said Wednesday. Biologics are typically isolated from a natural source and may be produced through biotechnology and other cutting-edge technologies, Gottlieb explained: “Once an interchangeable insulin product is approved and available on the market, it can …

How Much Difference Will Eli Lilly's Half-Price Insulin Make?
5 years, 10 months ago

How Much Difference Will Eli Lilly's Half-Price Insulin Make?

NPR  

How Much Difference Will Eli Lilly's Half-Price Insulin Make? Novo Nordisk called Lilly's lower-priced generic insulin "an important development," in an emailed statement. "Bringing affordable insulin to the market requires ideas from all stakeholders," Novo Nordisk's Ken Inchausti said in an email, which also listed steps the company has taken, such as a patient assistance program. They're usually not disclosed …

Eli Lilly introduces generic insulin at half the price of brand-name drug
5 years, 10 months ago

Eli Lilly introduces generic insulin at half the price of brand-name drug

CNN  

CNN — Pharmaceutical company Eli Lilly will sell a cheaper generic version of its rapid-acting insulin Humalog, according to a statement Monday from Chairman and CEO Dave Ricks. And no one should pay the full Humalog retail price,” Ricks said, describing the generic drug as “a bridge that addresses gaps in the current system until we have a more sustainable …

Eli Lilly offers half-price insulin as politicians pressure it over drug costs
5 years, 10 months ago

Eli Lilly offers half-price insulin as politicians pressure it over drug costs

LA Times  

Eli Lilly will keep selling its Humalog insulin at the existing price, but it will also sell a half-cost “authorized generic” called Insulin Lispro. Drug maker Eli Lilly & Co. will offer a half-price version of its blockbuster insulin, becoming one of the first companies to effectively cut the price of a top-selling drug amid the ongoing U.S. debate over …

Why is the cost of insulin rising and what can people do about it?
6 years, 2 months ago

Why is the cost of insulin rising and what can people do about it?

Salon  

Insulin in the United States isn’t free — in fact, it’s remarkably expensive, with some of today’s newest varieties costing over $500 for a box of five pens, according to GoodRx. “They’ve put together many proposals, but clearly is moving the market in that direction.” Ricks added that they’ve developed programs with companies like BlinkHealth and InsideRX to offer “any …

US wants drug prices in TV ads: ‘Patients deserve to know’
6 years, 3 months ago

US wants drug prices in TV ads: ‘Patients deserve to know’

Associated Press  

TRENTON, N.J. — The federal government said Monday that it wants to force drugmakers to disclose prices for prescription medicines in their TV commercials. And they deserve to know this every time they see a drug advertised to them on TV.” Most Americans don’t pay the full price for prescriptions — one reason drugmakers have opposed disclosing the list prices, …

Insider Q&A: What’s behind rising insulin prices?
6 years, 5 months ago

Insider Q&A: What’s behind rising insulin prices?

Associated Press  

WASHINGTON — Rising prices for insulin are getting scrutiny from diabetes patients, physicians and politicians. The Associated Press spoke with diabetes specialist Dr. Robert Lash, an executive with the Endocrine Society, about insulin prices. If you look at what’s called regular insulin, you can get that at a pharmacy for $25 to $30 per vial. They may use less insulin …

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