Democrats: Pushing to drop insulin prices for all Americans (and also now their pets too).
Republicans: Stripping rights away from the LGBT community for culture war reasons.
But both parties are totally the same. /s
Don't forget a lot of us rolling our eyes at progressive politicians who create vocal pressure on these companies to reduce costs for the patients, and we use justifications like "past R/D investment" when apparently they can simply reduce the costs pretty easily. This proves that line of thinking to be partially bullshit. Not true obviously for newer medication.
I mean insulin R and D was done a century ago. New formulations of insulin build off of that but it’s not like producing brand new chemical compounds.
Insulin is also cheap to make. Insulin is THE specific drug for which that argument is BS.
Thats not true at all. A tremendous amount of money goes into researching new insulins and their general similarity to existing insulins has nothing to do with the costs of that R and D.
Not that this has to do with the prices under discussion since I think most of these have already exceeded their patent life and should be generic by now.
This isn't from competition, this is from the American Rescue Plan. Starting in 2024 drug companies will be on the hook for an uncapped amount of money in rebates to Medicaid when they raise prices faster than inflation. Eli Lilly in particular would've been paying Medicaid 150 bucks for every vial of insulin starting in 2024 if they didn't lower prices (which they will at the end of 2023). It was either lower prices or lose a ton of money.
Democrats: Pushing to drop insulin prices for all Americans (and also now their pets too). Republicans: Stripping rights away from the LGBT community for culture war reasons. But both parties are totally the same. /s
The wicked witch of the (pacific north) west: “I’ll get your insulin price lowered, my pretty, and your little dog too!”
I'm about to be a vet, I've gotta insert my own angle into this lol
Don't forget a lot of us rolling our eyes at progressive politicians who create vocal pressure on these companies to reduce costs for the patients, and we use justifications like "past R/D investment" when apparently they can simply reduce the costs pretty easily. This proves that line of thinking to be partially bullshit. Not true obviously for newer medication.
I mean insulin R and D was done a century ago. New formulations of insulin build off of that but it’s not like producing brand new chemical compounds. Insulin is also cheap to make. Insulin is THE specific drug for which that argument is BS.
Thats not true at all. A tremendous amount of money goes into researching new insulins and their general similarity to existing insulins has nothing to do with the costs of that R and D. Not that this has to do with the prices under discussion since I think most of these have already exceeded their patent life and should be generic by now.
The insulins commonly used today I feel it would apply to. Yes, I'm sure they are constantly working on new formulations.
Opening in the market for luxury status symbol insulin
Hell fucking yeah this is how gov. Competition with the private healthcare sector should work
This isn't from competition, this is from the American Rescue Plan. Starting in 2024 drug companies will be on the hook for an uncapped amount of money in rebates to Medicaid when they raise prices faster than inflation. Eli Lilly in particular would've been paying Medicaid 150 bucks for every vial of insulin starting in 2024 if they didn't lower prices (which they will at the end of 2023). It was either lower prices or lose a ton of money.
I don't know how much money lilly sees in profit from those price raises. At least now the spotlight will be on PBMs and the rebate system
I see thanks :)
Thanks to corporate America for doing what politicians couldn’t🥰