On this evenings national news, they talked about this. In 1996 a vial of insulin cost $21, in 2018 a vial of insulin cost $320?!! People are dying because they can't afford the price of insulin! This not a new drug, how do you justify these increases?!! Trump's FDA head, Gottlieb is a favorite of the pharmaceutical industry. But his close ties with drug companies have some critics raising concerns about potential conflicts of interest. http://www.therepublic.com/2017/09/0...er_microscope/ https://www.nbcnews.com/nightly-news...307861?v=raila
So insulin prices when from $21 in 96 to around $240 in 2015 and since then it has increased to $274 in 2017, and you just can't trust Trump's FDA head? Trump is to Democrats today, what Jews were to Hitler. An excuse for everything they do not like, every injustice, every social problem, and ect.
Just two or three big pharma companies pretty much have a monopoly on the production of insulin. And due to all the FDA regulations, the Pharma industry is one of the last major industries that is protected from foreign competition. https://www.cbsnews.com/news/how-drug-companies-keep-insulin-prices-high/
There is COLLUSION in the drug business just like there is in health insurance and most every aspect of capitalism.FREE MARKET CAPITALISM does not exist everybody is phenageling the bagle.
The ongoing battles of generic versus brand name, and the ability to 'buy' a 99 year patent. Just remember, these are synthetic insulins. The 'original' insulins, such as those derived from swine, are still available, but are not as stable in their action. Finagling the bagel, I like that euphemism. Unfortunately, the public is the bagel, and no cream cheese is offered. It is more profitable to treat the symptoms, then it is to find a cure. Someone who is willing to put the cure out to the public, will anger a huge industry. Most would rather be paid to forget what they've found.....
Free markets prevent collusion and price fixing. When government throws up ample artificial barriers to entry, this is what you get.
the prices reflect the fact that people in america are 'footing the bill' for the rest of the globe... yes, the same pharm company that sells their product in the usa for , lets say, 100usd, also sells that exact same med elsewhere for 3-15usd...
