The insulin racket: why a drug made free 100 years ago is recently expensive (prospect.org)

Article summary

The article discusses the high cost of insulin in the US, which has led to deaths and financial struggles for many diabetics. The price of insulin has tripled in the past decade, despite being a century-old drug. The article attributes this to the pharmaceutical industry's profit motive and lack of competition. The story of Alec Smith, a 26-year-old who died from rationing his insulin due to high costs, is highlighted as an example of the human impact of this issue.

Main themes

• insulin costs
• pharmaceutical industry
• healthcare system
• drug pricing
• competition and regulation

What commenters say

• The high cost of insulin in the US is due to market collusion and the FDA's shutdown of competitors, rather than the Bayh-Dole Act or research costs.
• The US healthcare system is flawed, prioritizing profits over patients and leading to unaffordable medication costs.
• Negotiating drug prices, as done by other countries, could help reduce costs and make insulin more affordable.
• The cost of insulin is not as high as reported, as list prices have increased but discounts for insurance companies have also risen, making the actual cost to most patients relatively stable.
• The system is gamed against individuals, who are expected to navigate complex insurance and discount systems to access affordable medication.
• Government involvement in healthcare, such as through Medicare or the NHS, can help make medication more affordable and accessible.
• The pharmaceutical industry's pursuit of profits is a major driver of high drug costs, and reform is needed to prioritize patient needs over corporate interests.
• The lack of transparency and regulation in the pharmaceutical industry contributes to high costs and limited access to affordable medication.