(The Guardian) The Inflation Reduction Act is the Biden administration’s marquee plan to lower health care costs and fight climate change, but as Michael Sainato reports, it won’t tackle the high price of insulin in the United States – thanks to Republicans: During the Covid-19 pandemic, Erin Connelly had to ration insulin while transitioning to a different health insurance plan. When Connelly heard the Biden administration was planning to cap the price of the life-saving drug, she was delighted. She was soon to be disappointed.
The prices of insulin has soared in the US in recent decades and is more than eight times higher in the US than in 32 comparable, high-income nations, according to a Rand Corporation study.
With an average list price of $98.70 per unit in the US, compared with $7.52 in the UK, US insulin sales account for nearly half the pharmaceutical industry’s insulin revenue, though the US makes up only about 15% of the global market.
-Read more: https://www.theguardian.com/society/2022/aug/12/insulin-bill-price-cap-republicans-vote-against
The prices of insulin has soared in the US in recent decades and is more than eight times higher in the US than in 32 comparable, high-income nations, according to a Rand Corporation study.
With an average list price of $98.70 per unit in the US, compared with $7.52 in the UK, US insulin sales account for nearly half the pharmaceutical industry’s insulin revenue, though the US makes up only about 15% of the global market.
-Read more: https://www.theguardian.com/society/2022/aug/12/insulin-bill-price-cap-republicans-vote-against