Why Is Insulin So Expensive?
Why is Insulin so Expensive? The reason why insulin is so expensive is a loaded and complicated question. It wasn’t always this way. To understand how insulin pricing works, we must first look into the history of the drug itself. Insulin was created in 1922 and it was originally derived from animals. Around 30 years ago, researchers discovered biologic insulin and today it’s most commonly created from bacteria! This new form of insulin is better for diabetics to use because it’s closer molecularly to what we produce on your own (when compared to animal insulin). However, this had the effect of slowly but surely raising prices in the United States because it’s expensive to produce. The cost of insulin has tripled between 2002 and 2013, as more Americans are diagnosed with diabetes. Many people believe that with so many companies making the drug, prices should go down, but instead, insulin continues to be very expensive. Making Insulin Affordable The largest insulin manufacturers put the blame on increased insulin pricing for three main reasons. First, the cost rises because it is expensive to make and second because pharmacy benefit managers are raising the prices artificial Continue reading >>