March 6, 2023

The exploding cost of insulin

 Grid -  Millions of Americans with diabetes depend on the lifesaving drug insulin. But the cost of its four most popular formulations has tripled over the past decade, according to the American Diabetes Association, making the drug unaffordable for many patients who depend on it. Many Americans — as many as 1.3 million, or 16.5 percent of those who use insulin, according to a study published last fall in the Annals of Internal Medicine — have resorted to rationing it, which can result in severe or even fatal complications. . .  No other country comes close to spending as much on insulin as the U.S., according to an analysis by the Rand Corporation. In 2018, the average price of insulin in the U.S. was $100 per vial, five to 10 times more than 33 other countries. Chile, the next biggest spender, paid just $21.48. Many Americans end up paying much less than this, after insurance and other discounts, but prices still remain much higher than elsewhere.

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