Greed kills! Literally.
The Harvard Political Review (online) published an article about the rise in the cost of insulin.
“There are no generic insulins. Over the past twenty years, prices for the most commonly prescribed “analog” insulins have risen from about $20 per vial to well over $250 per 10 mL vial, an over 700% increase after accounting for inflation. In contrast, insulin today costs roughly five dollars per vial to produce. With deductibles far outpacing wages, insulin has become unaffordable even for well-off Americans.”
“When pharmaceutical manufacturer Eli Lilly’s Humalog insulin was first introduced in 1996, it cost $21. At the time of writing, HumaLog costs $295.35 per vial and Nordisk’s NovoLog costs $296.27. The older “human” insulins like Humalin are less expensive, but far less effective in treating Type 1 diabetes — yet even these primitive insulins have increased dramatically in price since their introduction in 1982.
“There hasn’t been a molecule changed in them. There hasn’t been a bit of change in terms of their synthesis, their manufacturing, and yet the costs have gone up extraordinarily,” said Nathan. “There are no adults in the room to tell the companies they can’t charge whatever they feel like.”