this post was submitted on 01 Jan 2024
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More Americans with diabetes will get a break on their insulin costs in 2024.

Sanofi is joining the nation’s two other major insulin manufacturers in offering either price caps or savings programs that lower the cost of the drugs to $35 for many patients. The three drugmakers are also drastically lowering the list prices for their products.

The moves were announced in the spring, but some didn’t take effect until January 1.

Drugmakers have come under fire for years for steeply raising the price of insulin, which is relatively inexpensive to produce. The inflation-adjusted cost of the medication has increased 24% between 2017 and 2022, and spending on insulin has tripled in the past decade to $22.3 billion in 2022, according to the American Diabetes Association.

Some 8.4 million Americans rely on insulin to survive, and as many as 1 in 4 patients have been unable to afford their medicine, leading them to ration doses – sometimes with fatal ramifications, according to the association.

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[–] queermunist@lemmy.ml 2 points 10 months ago* (last edited 10 months ago) (2 children)

🙄

The time, effort, and resources could be handled by a public industry that produces a public good. There's no reason for it to be privatized.

[–] lud@lemm.ee 1 points 10 months ago (3 children)

It can absolutely be privatised as long as some government body handles negotiations.

Letting the private sector compete for public contracts can often reduce prices and make production more efficient. It needs to be handled well of course.

It works pretty well here. The government negotiate the prices for medication to reasonable levels and every individual has a medication price cap that gradually reduces the price for medication until they are completely free (fully subsidised). After 12 months the price cap resets and the prices go up to normal. The price cap is set at ≈230 EUR.

Apparently insulin is always free and so are some other stuff.

Obviously this only applies to prescriptions.

IMO a great system is a mix of both a strong private sector and a strong public sector with non corrupt governmental oversight.

[–] NaibofTabr@infosec.pub -3 points 10 months ago

non corrupt governmental oversight

I mean, we could just wish for a unicorn pony that shits glitter and barfs rainbows while we're at it.

[–] NaibofTabr@infosec.pub -5 points 10 months ago* (last edited 10 months ago) (1 children)

could be handled by a public industry that produces a public good

could be, in a fantasyland where all people do things out of pure altruism and always put the good of others ahead of their own self-interest.

I used to believe people could be this way too. Then I turned 8.

[–] queermunist@lemmy.ml 0 points 10 months ago

If public libraries were proposed today you would oppose them as fantasyland nonsense.

In the real world, public works work.