Colorado became the first state to cap the monthly cost of insulin at $100. Here's why the life-saving drug is so expensive.
- Colorado became the first state to pass a bill capping the monthly cost of insulin per resident at $100.
- Type 1 diabetics need insulin to survive. Due to drastic price increases, many diabetics are struggling to afford the lifesaving drug.
- In the past 15 years, insulin prices have tripled. There are only three manufacturers who make insulin and decide the price for insulin — their prices have risen at the same rates.
- The insulin supply chain, like other pharmaceutical medications, is extremely complicated and opaque, so the consumer cannot see where prices get set and where they change throughout the supply chain.
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Following is a transcript of the video.
Narrator: Many people in the United States can't afford insulin. The average price for one vial of insulin is about $285. Most diabetics need two to four vials per month. But here's the thing. Insulin prices weren't always this high. "Inexpensive, easily accessible."
Narrator: A Type 1 diabetes diagnosis was a death sentence before this life-saving discovery.See the rest of the story at Business Insider
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