Friend—For my neighbors with diabetes, insulin is a necessity to stay alive.
The Biden Administration recently capped the price of insulin at $35 per vial for those on Medicare. It’s a good first step, but vastly inadequate at addressing the full scope of the issue facing diabetics.
$35 seems low compared to the more than $300 per vial that some companies were charging for insulin in the past.
But how much does it actually cost to produce? Between $2 and $4 per vial.
Even with a 30% profit margin, a year’s supply of insulin for a person with diabetes should cost less than $71. Instead, drug companies are charging that much every month even under the price capped Medicare plan.
We need to demand more from our government. Insulin should be free under single-payer universal healthcare.