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US sets policy to seize patents of government-funded drugs if price deemed too high
(www.reuters.com)
this post was submitted on 08 Dec 2023
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That first line should be applied to so many things in this world.
Food, education, health care, shelter.
E: The only reason why anyone in this world now, all 8 billion of us, doesn't have easy access to those if we want them, is because of the rich hoarding their wealth and their sway on politics.
PREACH. We're not a poor nation. We deserve universal, national healthcare. Fuck both parties, the R for making everything worse, and the Ds for peace-meal, ineffective horseshit, and a blowjob to the insurance industry.
Insulin is a bit complicated. Older formulations of insulin are cheap at this point, but the newer formulations that are more convenient and easy to use are still patented and can be very expensive. There are also newer delivery mechanisms like pens that cost much more than the traditional vial and syringe.
Medical pricing is an insane clusterfuck of imaginary numbers being shuffled around, but total insulin spending in 2022 was around $22 billion. The problem is much deeper than simply needing to raise taxes to throw even more money at the problem (and you're not going to find a simple $22 billion in taxes lying around anyway); you really need to address the core issue of why it's been getting so expensive in the first place, and that's a more complicated issue of corporate greed and regulatory failure. For one issue, it's extremely hard for a manufacturer to become properly licensed to produce insulin, so there's a huge wall any would-be competitors have to climb. Additionally, it is illegal to import it, so Americans are unable to buy insulin from other countries where it's produced much cheaper. Obviously big pharma loves that.
https://diabetes.org/newsroom/press-releases/new-american-diabetes-association-report-finds-annual-costs-diabetes-be
Let's be clear, just plain more effective at control. Old insulin allowed type 1 diabetics to become adults before they died young. New formulations let them live full lives. Similarly, insulin resistance in type 2 diabetics will also eventually kill them and only newer types of insulin are effective. It is a matter of life and death.