Insulin, a life-saving drug for people with diabetes, has become one of the victims of the United States’ drug-pricing system.
Over 10 million Americans have to rely on insulin to keep their blood sugar under control. However, the skyrocketing prices of insulin have made it so unaffordable that some diabetics are opting for older or less effective formulations. Some are even skipping their treatments altogether, which could be dangerous.
However, two distinct efforts are going on to cut the price of insulin, according to Bloomberg Quint.
First, President Joe Biden’s administration is working on some provisions in the Build Back Better (BBB) proposal. The plan presented recently during the State of the Union address would cap patients’ out-of-pocket costs for insulin at $35 a month.
Members of Congress from both parties have supported the idea. However, it hinges on the president’s dwindling chances of pushing through his partisan BBB spending bill, according to the news outlet. This strategy would improve access to insulin. It would also bring greater transparency to drug prices.
Gerard Anderson, a health policy expert at the Johns Hopkins Bloomberg School of Public Health, said, “You really have to bring the price down — not just the consumer’s portion of the price.”
Second, a nonprofit generic drug company is probably doing a better job to bring down the insulin price.
Civica Rx announced last week that it plans to manufacture and distribute affordable insulin. The company’s low-cost insulin will help people with diabetes, particularly those who are uninsured or underinsured.
Utah-based Civica Rx is expected to produce three generic insulins (glargine, lispro, and aspart) at a price of no more than $30 per vial and no more than $55 for a box of five pre-filled pens. These insulin products will be available by early 2024, depending on approval from the Food and Drug Administration (FDA).
The drug company, co-founded by the Gary and Mary West Foundation in 2018, said, “[It] is committed to developing and supporting innovative solutions to combat the high cost of prescription drugs in America that harm seniors and patients of all ages, and we are proud to have Civica as a strong partner in these efforts.”
Civica CEO Martin VanTrieste said, “More than 8 million Americans rely on insulin to live, but many can’t afford to take the amount they need because of the historically high and prohibitive cost of insulin.”
“We know that to really solve for the insulin cost and access challenges so many Americans face, we need a process – from manufacturing to setting a transparent price – that ultimately lowers the cost of the drug for those living with diabetes,” he added. “In that spirit, we will ensure patients know where Civica’s low-cost insulin is available.”
