Insulin price increases

[barretcreek]

https://www.zerohedge.com/markets/cost-insulin-driving-80-diabetic-americans-debt-survey

Anyone familiar with this? Old friend is T-1 and has been fitted with a pump; she's been cautious about going out since the plandemic.
How has this come about; monopoly or a real shortage in feed stock?

[one shot]

greed

[Mark in Ottawa]

I may have mentioned this before but Insulin was developed about a century ago at the University of Toronto. The developer was Frederick Banting, a family doctor from London Ontario who convinced the head of research at the University to let him use a lab and some high level support staff during the Summer when the students were off. A couple of years later, he won the Nobel Prize for his work. In this case perhaps it should be spelled noble rather than Nobel because he and his associates agreed to sell the patent to the university of Toronto for $1 so that it could be distributed to those who needed it at the lowest possible price. So here we are now in 2022 and the current versions of the product in the USA are so expensive that people can't afford to buy it. I understand that in Canada you can get it over the counter at a pharmacy without a prescription at a price that is so low that there are literally busloads of "medical tourists" coming over the border to buy it. I should also mention that Banting was knighted a few years later.

[togor]

Down here people tell us this is the key to the USA having world class medicine. You have to be able to gouge people in order to have the money to plow back into new treatments, so the cycle of gouging can continue.

The really insane one is how Medicaid can't negotiate drug prices. Because pharma special interests want it that way.

[Sandpebble]

I may have mentioned this before but Insulin was developed about a century ago at the University of Toronto. The developer was Frederick Banting, a family doctor from London Ontario who convinced the head of research at the University to let him use a lab and some high level support staff during the Summer when the students were off. A couple of years later, he won the Nobel Prize for his work. In this case perhaps it should be spelled noble rather than Nobel because he and his associates agreed to sell the patent to the university of Toronto for $1 so that it could be distributed to those who needed it at the lowest possible price. So here we are now in 2022 and the current versions of the product in the USA are so expensive that people can't afford to buy it. I understand that in Canada you can get it over the counter at a pharmacy without a prescription at a price that is so low that there are literally busloads of "medical tourists" coming over the border to buy it. I should also mention that Banting was knighted a few years later.

Mark this is the second time recently that I'm going to thank you for your input as again " How right you are "

I mentioned here on this blog quite some time ago about how both my Father and my wife take the exact same blood pressure prescription that is manufactured here in the United States. Same brand, same mg.... same every thing except that she purchases it in South America at 1/3rd the cost of here .

So it gets shipped to South America and sold at what I can only assume to be a profit at a much lower price as it isn't affordable at our prices here .... hhmmmm .

A recent President down here in the U.S. bragged about how he could lower health care and prescription costs with his superior negotiating skills ... not sure I can view either as a "promise kept" but then again it's likely that those he would negotiate with ... play golf with their free time

[Johnny P]

Lobbyists are the big voice in Washington. Congress Critters only cozy up to their constituents come election time.