Why does it cost $740 Billion (Dems IRA) to cap Insulin prices at $35 per month?

I agree that it should not cost a penny but if you suddenly remove $965 from the cost that will have a noteworthy impact on the bottom line of the pharmas selling it. So noteworthy it would likely force them to reconsider making it at all. Now we have no insulin at all at any price. Not an appealing picture to diabetics.

So, at a minimum, you have to provide a new manufacturer to make insulin and not mark it up to the moon. It is cheap and easy to make so this is not a fantasy to think that getting a new maker come on line but it is a fantasy to think existing makers can absorb that kind od shock to the system.
 
Celticguy said:
I agree that it should not cost a penny but if you suddenly remove $965 from the cost that will have a noteworthy impact on the bottom line of the pharmas selling it. So noteworthy it would likely force them to reconsider making it at all. Now we have no insulin at all at any price. Not an appealing picture to diabetics.

So, at a minimum, you have to provide a new manufacturer to make insulin and not mark it up to the moon. It is cheap and easy to make so this is not a fantasy to think that getting a new maker come on line but it is a fantasy to think existing makers can absorb that kind od shock to the system.
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Do you really think that capping the price of insulin will have any effect on the massive profits of our pharmaceutical industry? In most cases, their products have no competition and they can set whatever prices they want.
 
floridafan said:
Do you really think that capping the price of insulin will have any effect on the massive profits of our pharmaceutical industry? In most cases, their products have no competition and they can set whatever prices they want.
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it quite obviously will impact profitability if you remove $965 dollars of profit per unit sold.
 
floridafan said:
Profits, for you kind, are always more important than people.
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I happen to be an insulin user so this subject is of great interest to me.
Look, you frames your comments poorly by hanging it on profit. Profit is not the issue.
Insulin can be made very cheaply (as no less safe) by anyone. The process is easy, cheap and mature. Makers have used gimmicks to pretend to need to raise prices mostly in terms of delivery systems and the newer slow release versions.
But the problem is that prices are now what they are and getting them back down to reasonable is going to cause so e pain somewhere to shock the market into this action.
 
floridafan said:
.

Its very strange that Canada and the US use the same drugs, from the same Pharma companies, yet we have to go to the Canadiens to get a cheaper price, one not available to us.

I get one drug from Canada that costs 1/3 of the same product here. Why oh why can that be?
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because Biden revoked Trump's orders?.....
 
floridafan said:
.

Its very strange that Canada and the US use the same drugs, from the same Pharma companies, yet we have to go to the Canadiens to get a cheaper price, one not available to us.

I get one drug from Canada that costs 1/3 of the same product here. Why oh why can that be?
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Canada has a gov't review board that decides if the price of a drug is "right".

If the price is too high, the drug is banned.
 
floridafan said:
But, but Donald never did anything, its always someone else's fault.
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Trump signs series of executive orders aimed at lowering drug ...https://www.cnbc.com › 2020/07/24 › trump-announce...
Jul 24, 2020 — President Donald Trump signed four executive orders aimed at lowering the high cost of prescription drugs in the United States."



Federal "Right to Try" Legislation Passes, Signed by Presidenthttps://www.facingourrisk.org › advocacy › federal-rig...
May 30, 2018 - Federal right-to-try legislation aimed at loosening oversight of access to unapproved drugs for "compassionate use" was signed by President Trump ...
 
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