US Insulin Pricing Looks Set to Change Across the Board

With new legislation and moves from major insulin producers, the US insulin market is set to see even more changes over the coming months. The process began with a $35 Medicare price cap on the drug enshrined in the Inflation Reduction Act, a cap mirrored shortly by Sanofi, Novo Nordisk, and Eli Lilly. Upcoming legislation may cap the price of the life-saving diabetes medication for all patients.

According to Akosua Mireku and Irena Maragkou, “Experts attribute the extremely high insulin prices to a dysfunctional rebate system involving PBMs, consistent price gouging, and a flawed healthcare system. Sachiko Ozawa, PhD, a health economist at the University of North Carolina at Chapel Hill, says the extravagant insulin prices seen in recent years have even caused some diabetics to partake in high-risk behaviors such as online purchases from illegitimate websites. ‘These rogue or illegitimate online pharmacies are really catering to a population that’s looking for cheaper insulin prices,’ says Ozawa.”

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(Source: Pharmaceutical Technology, April 13^th, 2023)