SIMON: You mentioned calls to cap insulin prices. These price drops will help avoid that penalty. And there's also just one more thing, an upcoming regulatory change that was passed in the American Rescue Plan, where in 2024, drugmakers are actually going to have to start paying a penalty to Medicaid for drugs like insulin that have had steep price increases. So there's pressure in the marketplace that hasn't been there before right now. Mark Cuban's company wants to sell generic insulin for cheap. The nonprofit drugmaker Civica plans to bring a low-cost insulin to market next year. So, you know, California has recently announced it's going to manufacture its own insulin to address prices. But I wouldn't overlook the money motivator here, as well. You'll probably remember President Biden just in this recent State of the Union address actually called for capping insulin copays for everyone. And there's significant political pressure now, too. They developed new patient assistance programs to help people afford it. So, for instance, they stopped raising the price of insulin. And pharmaceutical companies have responded to that pressure in the past. There's been a really strong grassroots movement with people like Nicole Smith-Holt who are calling for lower insulin prices. SABLE-SMITH: Yeah, I mean, I think they certainly did have an impact. SIMON: Do you think these stories had an effect? And cost is the really big factor in that. And actually, a recent study found that over a million Americans have rationed their own insulin. There have been a number of people who have died from rationing their insulin. Nicole has become a tireless activist since then, and Alec's story is just one example. So he tried to stretch out the insulin that he did have until payday. But when it came to buy his first supply, he couldn't afford it. And after shopping around, he decided his cheapest option was actually going to be to just go uninsured and pay out-of-pocket for his insulin. Her son Alec was aging off of her insurance when he turned 26. And I recall especially one woman who lost her 26-year-old son because he couldn't afford insulin. SIMON: Over the years of covering insulin prices, Bram, you have reported on a number of heartbreaking cases. And when people can't afford that price tag, that's what becomes dangerous and even deadly. And insulin list prices rose over 1,000% in the past 30 years. People who are uninsured are the most vulnerable when list prices are high. But that's really only effective if you have insurance. So many of the proposed solutions for high insulin prices in recent years have centered on capping insurance co-payments. So you can kind of think of that like the sticker price on a car. And what's really important here is that they're reducing the list price of insulin. I mean, these three drugmakers produce something like 90% of the country's insulin supply. SABLE-SMITH: It's quite significant, Scott. How significant is the news of this week's price reductions? And a lot of people have been left struggling to afford it. SIMON: Drug companies have been better known for increasing the price of insulin. Bram, thanks so much for being with us.īRAM SABLE-SMITH, BYLINE: Thanks for having me. Bram Sable-Smith from Kaiser Health News joins us. This follows a similar decision by Eli Lilly. Novo Nordisk and Sanofi announced they are lowering their list prices for insulin products. More good news for the millions of people who need insulin to stay alive.
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