What Do Pharmaceutical Companies Really Spend Their Profits On?

What Do Pharmaceutical Companies Really Spend Their Profits On?

Aug 19, 2021 by David Wood

For decades, pharmaceutical companies have claimed that the skyrocketing price of insulin and other drugs is the direct result of innovation.   Earlier this year, the US House of Representatives began an investigation to determine just how much of pharmaceutical profits are spent on research and development. Their Drug Pricing Investigation report, which was released in July, tells a much different story than the one Big Pharma has been tr...

The Insulin Price Crises: What Is Patent Evergreening?

The Insulin Price Crises: What Is Patent Evergreening?

Aug 17, 2021 by David Wood

Patents are important for innovation. They act as a safeguard for inventors to help assure they receive adequate compensation for their work before competition enters the market. This time period varies by product but can last up to 20 years. But patents can also be used to repress innovation and create monopolies.  One of the most striking examples of this can be found in the insulin market. Here, big companies engage in a process cal...

Simple Breakdown: Why Is Insulin So Expensive?

Simple Breakdown: Why Is Insulin So Expensive?

Aug 12, 2021 by David Wood

The problems with the American healthcare system are complex and far-reaching. The same can be said about the issues that have driven up the cost of insulin to the point that 1 in 4 people living with diabetes are forced to ration the drug. One of the best articles for explaining the high cost of insulin was published by Mayo Clinic Proceedings in 2019. According to this article, there are six reasons insulin prices have risen by over 1000%...

What is “Authorized Generic” Insulin?

What is “Authorized Generic” Insulin?

Aug 10, 2021 by David Wood

There is a new term floating around in the world of insulin production: authorized generic. If you read our article on biosimilars, then you already know there is no such thing as a generic when it comes to biologic pharmaceuticals like insulin.  So that begs the question, what on earth is an authorized generic insulin? The answer is definitely not what you would expect. There are currently three insulins available in the United Sta...

Price Hikes of Older Insulins are Driving the Insulin-Price Crisis

Price Hikes of Older Insulins are Driving the Insulin-Price Crisis

Aug 3, 2021 by David Wood

It makes sense to pay more for a newer, better drug. But why would anyone ever pay more than the rate of inflation for a decades-old drug that has no supply limitations? If you’re buying insulin, odds are, you should be asking yourself that question. A recent study from the University of Pittsburgh found that the driving force behind skyrocketing insulin prices is being driven by price hiking of old insulins more so than the expected ...

The Problem with Insulin Copay Caps

The Problem with Insulin Copay Caps

Jul 29, 2021 by David Wood

A number of states enacted insulin copay cap bills in 2021. In the fight against the outrageous and continuously growing prices of insulin, this seems like a huge win, but is it? Colorado was the first state to pass an insulin copay cap, which limits copays on a month's worth of insulin to $100. Dozens of states followed suit, with Connecticut passing the most stringent law, limiting insulin copays to just $25. Compared to the $700 or m...

Insulin Rationing: A Common Practice with Deadly Consequences

Insulin Rationing: A Common Practice with Deadly Consequences

Jul 26, 2021 by David Wood

One in four insulin-dependent diabetics ration their insulin because they cannot afford to use it in the doses prescribed. This is just one of many shocking statistics reported in an article published in JAMA Internal Medicine in 2019. As insulin prices have only continued to rise since that study concluded, it is likely even more diabetics have turned to this drastic—and deadly—practice. According to commentary provided by Elis...

Insulin Biosimilars: What Are They and Why Do We Need More of Them?

Insulin Biosimilars: What Are They and Why Do We Need More of Them?

Jul 22, 2021 by David Wood

You’ve heard of generic medication, but have you ever heard of a biosimilar? This term has recently become more popular outside the pharmaceutical world thanks to a congressional ruling meant to increase competition in the biologics market. If you’re confused about what this word means and the pros and cons of biosimilars, you're not alone. In this article, we’ll walk you through everything you need to know about biolo...

Broadening Cheap Insulin Choices Is Key to Saving Lives

Broadening Cheap Insulin Choices Is Key to Saving Lives

Jul 20, 2021 by David Wood

Two years ago, the effectiveness of OTC insulins, the cheapest type of insulin currently available, was called into question. This came after the death of Josh Wilkerson, aged 27, made headlines.  Wilkerson died just months after switching from an analog insulin to the much cheaper OTC type. He was forced to make the switch after he aged off his parent’s insurance plan. OTC insulins are less commonly prescribed than the newer, mo...

What is Insulin and What Are the Different Types Available?

What is Insulin and What Are the Different Types Available?

Jul 15, 2021 by David Wood

What is Insulin? Insulin is a hormone made by the pancreas. It allows your body to use glucose, a type of sugar found in many carbohydrates, for energy. After eating, the digestive tract breaks down carbohydrates and changes them into glucose that is then absorbed into your bloodstream through the lining in your small intestine. Once glucose is in your bloodstream, insulin causes cells throughout your body to absorb the sugar and use it for en...
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