BIG PHARMA POLITICS: Consumers pressure politicians to do something about rising drug prices. Read More
A new study from the Rand Corporation underscores what many U.S. consumers who take insulin have long suspected: They pay far more for this essential drug than they need to.
In fact, researchers found that U.S. prices of insulin, used to treat diabetes, are often five to ten times higher than the price of insulin in other countries. The findings are part of a report that compared U.S. insulin prices with 32 other comparable countries in 2018.
The analysis focused on manufacturer prices, but even when accounting for potential rebates, the U.S. prices are still an average of four times higher than in other countries.
When compared with the most expensive insulin prices by country on the list, the U.S. is still 4½ times more expensive than Chile, the next closest country.
Axios reports that this study is important because it exposes the lack of action to significantly bring down the price of insulin in the U.S., despite the age of the drug and its use as a poster child for excessively high drug costs.
Have you seen the price of your insulin increase or decrease in recent years? Share your story with Voices for Affordable Health.