Big Pharma Needs To Be Held Accountable For Lead Role In Rising Insulin Prices

On Wednesday, executives from the three biggest makers of insulin, Novo Nordisk, Eli Lilly and Sanofi, will testify before the U.S. House Committee on Energy and Commerce Subcommittee on Oversight and Investigations on a hearing about the rising cost of insulin.  These companies say that they’re for affordability and access for patients, but their track record proves otherwise.

The fact is: Eli Lilly, Novo Nordisk and Sanofi control 99 percent of the marketplace and face no true generic competitor to drive down prices.  With this level of market control and absence of competition, there’s nothing to stop them from raising prices.

Here are just a few examples of how insulin makers have jacked up the price of their drug:

The hearing Wednesday will build on several hearings already held this Congress calling attention to the impact of rising insulin prices.  In those earlier hearings, patients and families offered harrowing testimonies on their inability to afford this life-saving drug.  Affordability has become such a problem that one-quarter of patients with Type I or Type II diabetes have turned to rationing their medication – and sometimes the results are deadly.

The ability to afford medication should never be a matter of life or death.  CSRxP applauds lawmakers on both sides of the aisle for holding another important hearing on rising drug prices and encourages them to hold insulin makers accountable by supporting market-based solutions to lower the price of prescription drugs.


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