Price of Insulin More Than Doubled Since 2002

by admin | April 7, 2016 3:08 pm

April 7, 2016—Drug manufacturers more than doubled the price of insulin – which people with Type 1 diabetes need to stay alive – between 2002 and 2013, according to new research published in JAMA. [ms-protect-content id=”2799″]

The study comes just days after Reuters news service reported[1] that prices for four of the nation’s 10 most widely used prescription drugs more than doubled since 2011 and price hikes for the other six ranged from 96 percent to 54 percent. The group of six included Sanofi’s Lantus Solostar insulin pen, which Reuters said rose in price by 94 percent from 2011 to 2014.

The cost of prescription drugs is growing as a public policy concern, fueled by coverage of extreme price hikes and launch prices by the companies Turing, Valeant, and Gilead. The drug industry has tried to paint Turing and Valeant as renegades. The JAMA and Reuters reports, however, suggest the doubling of drug prices is a mainstream development.

The study in JAMA found that the average price per millimeter of insulin increased by 197 percent from $4.34 in 2002 to $12.92 per millimeter in 2013. The average price of one alternative therapy, DPP-4, increased just by 34 percent between 2006 and 2013 while the average price of another, metformin, fell by 93 percent from 2012 to 2013. The researchers said their findings “suggest a need to reassess the effectiveness and cost-effectiveness” of these alternative medicines.

Estimated spending for insulin per patient increased from $231 in 2002 to $736 in 2013, the study found. The researchers said the estimated spending per patient in 2013 was about $508 for man-made insulin and $228 for human insulin. Man-made, or analog, insulin is faster acting and now accounts for about 90 percent of the insulin market.

Spending per-patient on insulin in 2013 was greater than on all other diabetes medications combined, the researchers said.

The 340B program generally covers FDA-approved insulin, but not blood glucose monitoring supplies. The 340B Prime Vendor Program negotiates voluntary discounts on such products for participating 340B covered entities. [/ms-protect-content]

Source URL: https://340bemployed.org/price-of-insulin-more-than-doubled-since-2002/

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