Republicans block $35 cap on price of insulin

[boutons_deux]

1.3 million Americans ration insulin because of the high cost

https://www.bostonglobe.com/2022/10/...n-because-cost

Ain't Capitalism humanely fantastic?

[Winehole23]

Government doing good for people is "a slippery slope."

https://www.politico.com/news/2022/1...icare-00075246

[Adam Lambert]

The party of fear is scared of affordable insulin.

[Winehole23]

enticed by restructured Medicaid rebates, three major manufacturers slash the price of insulin

Sanofi cut the list price of Lantus by 78% to $96 for the prefilled pens and $64 for the 10-milliliter vial starting January 1. It reduced the list price of its short-acting Apidra insulin by 70%.

Novo Nordisk lowered the list prices of several of its insulin vials and prefilled pens, including NovoLog, Novolin and Levemir, by up to 75% as of January 1. The new list price for NovoLog is $72 per vial and $140 for the FlexPen.

And Eli Lilly said it would slash the list prices of Humalog, its most commonly prescribed insulin, and of Humulin by 70% by the end of 2023. Humalog will now carry a list price of $66 per vial.

These moves were carefully timed and will save the companies hundreds of millions of dollars a year, experts said. That’s because the 2021 American Rescue Plan Act made a major change to the rebates that drug manufacturers pay annually to state Medicaid programs – a change that kicked in on January 1.

The rebate is based on how much a drug’s list price has increased compared with inflation and how deeply it is discounted in the commercial market. Until now, that rebate was capped at 100% of the drug’s average manufacturer’s price, which is a proxy for its list price.
But that cap disappeared on January 1, so the rebate could now be larger than the amount the drugmaker earns from Medicaid for the medication. About 15% to 20% of brand drugs have reached the cap, according to IQVIA, an analytics and research company.
By cutting the list prices for Humalog and Humulin, Eli Lilly could avoid having to pay an additional $430 million in Medicaid rebates in 2024, said Spencer Perlman, director of health care research at Veda Partners, a consulting group that provides policy analysis to ins utional investors. Plus, Eli Lilly could earn an additional $85 million in profits from Medicaid because of the way the rebate formula is designed.

Novo Nordisk could avoid about $350 million in new rebates and earn nearly $210 million more on NovoLog and Levemir. Sanofi, meanwhile, could avoid $560 million in rebates and earn an additional $200 million in profit on Lantus.

https://www.cnn.com/2024/01/01/polit...cap/index.html

[Thread]

enticed by restructured Medicaid rebates, three major manufacturers slash the price of insulin

https://www.cnn.com/2024/01/01/polit...cap/index.html

Should be free like it is for the Nazi's in Ukraine, Winestein. Right?