For the past few years, it has become very apparent that the cost of insulin is skyrocketing. The cost of insulin rose nearly 200% between 2002 and 2013, according to a new study (Expenditures and Prices of antihyperglycemic Medications in the United States: 2002-2013).
Patients who have been diabetic for decades this is the first time that they can’t afford their insulin. For Medicare patients with type 2 diabetes who fall into the “doughnut hole,” can’t afford their insulin. The newly insured patients who didn’t understand what it means to have a high deductible are struggling because they’re paying the full price. For other patients have seen their insulin copays increase to a level where they can’t even afford the copays.
The Pharmacy Benefit Managers (PBMs) get rebates from the insulin companies, so they’re the ones who control which insulin goes to the patient. It’s all based on what they can profit from with those rebates.
The insulin companies have had no choice but to increase the price of insulin so that they can at least keep their profit margin. Insulin companies try to maintain a high-profit margin and the Pharmacy Benefit Managers (PBMs) try to leverage prices in their favor but the only ones losing are the patients.
The United States has the most expensive insulin in the world. Even human insulin is expensive. It costs $2 per vial for neutral protamine Hagedorn (NPH) insulin in India, but if you go to Walgreens and pay cash, it’s $140. Lantus in India is $12 per vial, but here in the United States, it’s between $250 and $300 for the same insulin.
The ADA has spoken to all of the insulin companies in detail and has come out with a statement on the accessibility and affordability of diabetes medications (http://www.diabetes.org/newsroom/press-releases/2016/statement-on-accessibility-and-affordability-of-diabetes-medications.html).
Here other blogs/news about the high prices of insulin:
- Insulin price spike leaves diabetes patients in crisis (http://missoulian.com/news/state-and-regional/insulin-price-spike-leaves-diabetes-patients-in-crisis/article_bd14b43c-3f4c-5343-a2d7-10e2e6a8a091.html)
- Insulin is 90 Years Old and Costs More Than Ever — Why? (http://blog.thediabetessite.com/insulin-cost-high/)
- Insulin is too expensive for many of my patients. It doesn’t have to be. (http://www.philly.com/philly/health/health-news/insulin-is-too-expensive-for-many-of-my-patients-it-doesnt-have-to-be-20170626.html)
