The inventor of insulin, Frederick Banting, believed access to insulin, and other life-essential medicines, was a human right. When he was asked why he gave away his patent for $1, he replied, "Because insulin does not belong to me. It belongs to the world."
Globally, half of the people who need insulin can't reliably get access to it. With 6 million people in the US insulin-dependent, and nearly 40 percent of Americans uninsured or facing high deductibles that leave their medicine costs uncovered.
price has increased over 1,000 percent since the late 1990s. A vial of the same insulin that was once sold for around $25 can now cost patients nearly $300, and many people need multiple vials per month to survive.
The pharmaceutical companies that sell insulin won't disclose any details, but it is likely that this same vial is manufactured for just a few dollars. Which means that those companies are making huge profits and paying huge CEO salaries. The three insulin manufacturers have raised their prices in lockstep for many years now, prompting a class-action lawsuit and criminal investigations into collusion. Additionally, the insurance industry is also complicit in the drug pricing scheme.
Endocrinologists here in the US report that as many as one in five of their patients are not able to afford their insulin. For many persons with diabetes, that means they land in the emergency room with diabetic ketoacidosis.
http://www.truth-out.org/opinion/item/43397-i-had-to-bury-my-26-year-old-son-because-he-couldn-t-afford-insulin
Globally, half of the people who need insulin can't reliably get access to it. With 6 million people in the US insulin-dependent, and nearly 40 percent of Americans uninsured or facing high deductibles that leave their medicine costs uncovered.
price has increased over 1,000 percent since the late 1990s. A vial of the same insulin that was once sold for around $25 can now cost patients nearly $300, and many people need multiple vials per month to survive.
The pharmaceutical companies that sell insulin won't disclose any details, but it is likely that this same vial is manufactured for just a few dollars. Which means that those companies are making huge profits and paying huge CEO salaries. The three insulin manufacturers have raised their prices in lockstep for many years now, prompting a class-action lawsuit and criminal investigations into collusion. Additionally, the insurance industry is also complicit in the drug pricing scheme.
Endocrinologists here in the US report that as many as one in five of their patients are not able to afford their insulin. For many persons with diabetes, that means they land in the emergency room with diabetic ketoacidosis.
http://www.truth-out.org/opinion/item/43397-i-had-to-bury-my-26-year-old-son-because-he-couldn-t-afford-insulin
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