30.3 million, 6 million, and 84.1 million. These are the amounts of people in the United States that have diabetes, take insulin to treat diabetes, or have prediabetes, respectively. According to the American Diabetes Association, 14.4% of those diagnosed with diabetes do not take any form of medication in order to treat their symptoms because of the heavy price tag. Therefore, drug manufacturers must drive down the price of insulin in order to accomodate the millions of Americans that depend on the life saving product.
When insulin was first invented in 1923 by Frederick Banting, he refused to patent it because he thought it was unethical for doctors to profit off of a life saving medication. Now, millions of Americans are cheated of their quality of life because of money hungry companies.
It is apparent that insulin manufacturers have inflated the prices of their product in a practice known as “drug hiking” in order to make profit. One vial of insulin can cost around $200 to $500 according to USA Today, while the the production price of one vial of insulin is $1, according to Vox. Furthermore, monthly costs of insulin can reach up to $1500.
Excessive drug hiking has resulted in patients having to skip insulin shots or completely avoid their dosages altogether in order to cut cost. As proven in the Cost-Related Insulin Underuse Among Patients With Diabetes Research Report, insulin has become a luxury, rather than a life saving medication because of inflated prices.
It is clear that massive price inflation pushes insulin out of the budget of most Americans and forces them to minimize their use of the drug in order to save it for as long as possible. For patients who stretch their dosages, a vial of insulin is only usable up to 28 days after it is opened, adding another hardship.
On April 3, insurance company Cigna capped their “30-day cost of insulin at $25, [which is a] 40% reduction” in order to address these costs. The problem with this plan is that the patient’s employer must opt in to change or amend their company’s insurance plans, meaning that patients have to carry the burden of convincing the employer to adopt changes. Cigna’s new policy is only a quick band-aid solution, not a long term answer. Patients need the unconditional allyship of those in power, namely employers and elected officials , to work in their interests.
All across the United States, patients and their families are suffering because they can not pay for insulin. Mothers like Nicole Smith-Holt must cope with their children’s premature deaths, brought on by their inability to afford insulin. In spite of the loss of her son, a Type 1 diabetes patient, Smith-Holt advocates for diabetes patients in her community and works with local organizations to drive down the market price of insulin.
In order to remedy this diabetic disaster born from corporate greed, elected officials must push for a universal insulin policy that protects patients and regulates drug manufacturers. To prevent inflation, this policy must include a price cap that discourages companies from taking advantage of their patient’s pockets.
It should be in our nation’s best interest to make this life saving treatment available and affordable for all that need it. Insulin should not be a business opportunity to maximize corporate profits, it should be an opportunity to minimize unnecessary deaths.
