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Drugmaker Eli Lilly announced their plans to sell a half-priced version of Humalog. All this in an effort to fend off criticism for their continued insulin price hikes in the US. Lilly and other major drug companies have been under fire lately for unnecessary price increases of insulin.
Why have insulin prices gone up?
People with type 1 diabetes have no other option but to pay the steep prices or they risk severe harm or death. With many people with diabetes scavenging to find insulin, some even resorting to using the black market, this could help. Still, the question must be asked. Why have insulin prices gone up?
Lilly’s new “rebranded” insulin will be called Insulin Lispro. They will still be selling Humalog at the current, much higher price for people that want to use their insurance to pay for it. Again, we ask, why have insulin prices gone up?
Annual Humalog sales make Lilly $3 billion. This is how many zeros come with that much money.
According to The Richest "the height of a stack of $1,000,000,000 (one billion dollars) would measure to 358,510 feet or 67.9 miles." Lilly makes three 67.9 mile stacks of cash each year from just Humalog!
We need to remember that insulin cures nothing. If you need insulin today, you will need it tomorrow and every day after that. People with Type 1 diabetes and many people with type 2 diabetes need to have this medication in order to stay alive.
This reporter and many others will die without insulin.
Insulin prices have doubled in the last five years. The cost to manufacture insulin has NOT doubled. With American senators opening up an investigation into the “morally repugnant” price gouging.
“Two senators last month launched an investigation into rising insulin prices, writing to Lilly and other leading manufacturers, asking them why the cost of the nearly 100-year-old medication had rapidly risen.” Reported by Reuters.
According to Republican Chuck Grassley and Democrat Ron Wyden, “The price of Lilly’s Humalog rose from $35 to $234 per dose between 2001 and 2015, a 585% increase.”
In the past, Lilly excused their pricing practices by blaming it on rebates, discounts they make with pharmacies, and health insurers. Please don’t feel too bad for them. They are making $3 billion each year.
According to the CDC, in the United States in 2015, diabetes was the 7th leading cause of death. This was based on 79,535 deaths, where the death certificate listed diabetes as the underlying cause of death. Diabetes was also listed as any cause of death on 252,806 death certificates.
At Active Diabetics, we support insulin for all. We are not happy that parents need to choose between insulin, food, and electricity when their type 1 diabetic child needs all three to survive. We do not like that Lilly makes such a profit off our want to survive. We do not understand why we don’t have a cure yet. We want Lilly and all other drug manufacturers to CURE us, not steal our money. We don’t like the injections, and we are tired of the debt this disease and insulin cause us.