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.
As long as there are multipler suppliers, as a single large purchaser the Government would have (and the Military already has) way more leverage to negotiate far better prices from suppliers than individuals ever could, since no one supplier wants to lose such a massive customer to their competition.
Even in a purelly rightwing 100% financial logic, it makes sense to have centralized procurement of medicines such as insuline because it’s the most efficient use of resources.
Or at least it would make sense if the rightwing (which means both Democracts and Republicans since the Overtoon Window in the US is well to the Right of most of the developed world, so it’s really just hard neoliberals vs quasi-fascists) weren’t complete total hypocrites whose main objective is not at all managing the country as best as possible.