I go online and one of the first things I see is that #193Republicans is trending.
I know that Twitter manipulates its trends to spread a message so I had to look it up.
The House passed a bill to cap insulin prices at $35 per month.
193 Republicans voted against the bill so the Twitter message is that Republicans want you to die for Big Pharma profits.
House votes to cap cost of insulin at $35, bill heads to Senate
Experts say it only costs drug companies $10 to manufacture.
Congress could soon send to the president’s desk a bill that would cap the cost of the life-saving drug insulin at $35 per month — a move that could significantly reduce and rein in out-of-pocket drug costs for millions of Americans with diabetes.
The House approved the bill Thursday by a vote of 232-193, with 12 Republicans joining all Democrats in support.
House Majority Leader Steny Hoyer told reporters on Wednesday that it is “inexcusable” people are being charged exorbitant prices for “a lifesaving and life-sustaining drug whose costs [have] not increased and whose research costs have been amortized a very long period of time ago.”
I am not an expert on insulin by any means.
My dad was a diabetic and was on insulin.
I know that there are many types of insulin out there, my dad had stuff that needed refrigeration and he had a supply of needles for and he had pens with automatic dosing that were shelf stable.
I know that the “research” on insulin isn’t so much about insulin but the drug and delivery systems that make micro dose shelf stable insulin possible.
I know that FDA regulations are expensive and time consuming to comply with for new drugs.
I know that in the US, beef and pork derived insulin was withdrawn from the market in 2006.
I also know that the pharmaceutical company do engage in fuckery with patents which keeps their IP on products long after it should have expired.
I know that the pricing of drugs for Medicare and insurance is as transparent as a block of lead.
I also know that price fixing has never worked to sustainably lower costs on anything, ever.
Lastly, I know that there is a huge insulin market in the US, with about 10% of the population having some form if diabetes.
So, I suspect that this price fixing in the short term, i.e., through the midterm and maybe 2024, will leads to a reduction in insulin prices, but in the long term will increase costs and reduce supply.
I’m all for reducing the price of insulin.
What we need is to attack the problems upstream.
Walmart should be able to contract with a facility to make pig and cow insulin in Texas and sell it as Equate brand insulin behind the counter at their pharmacies without insurance.
I guarantee with a market of 35 million diabetics, they could get it below $35 a month OTC pricing.
But the approval process for that makes it impossible.
The way to fix this is with deregulation, price transparency, and competition, not price fixing.
But that’s not what is going to be done.
Instead the insulin markey us going to get squeezed and stupid people will blame the Republicans for not doing anything to help the little guy, because messaging is more important than effects.