Food and Drug Administration Commissioner Scott Gottlieb says new rules that could roll out in 2020 will look to bolster competition in the insulin market, Managed Care magazine reports, which is currently dominated by three drugmakers: Eli Lilly, Novo Nordisk and Sanofi Aventis.
A study conducted by BMJ Global Health reportedly found that drugmakers are able to charge significantly higher prices for the drug due to the lack of competition. Increased competition could drive down prices.
“We’ve heard frequent reports of patients rationing insulin, and in some cases dying because they can’t afford the injections they need to survive,” Gottlieb said. “These tragic stories aren’t isolated occurrences, and they’re not acceptable for a drug that’s nearly a century old.”