Capping the price of insulin could save many lives for people with diabetes. In the middle forms of the disease, it is necessary to constantly take hypoglycemic agents to even out disturbances in the body. Insulin, at the same time, is especially necessary for people suffering from a disease in severe form. Hypoglycemic drugs and insulin injections in such difficult cases are vital because they can also reduce the risk or slow down the development of serious diabetic complications, neuropathy, and encephalopathy.
The problem of inappropriately high prices for insulin is exacerbated by the fact that research in this area is mostly completed and not innovative. Insulin is a long-established product in the drug market. At the moment, it is not an experimental or innovative drug, the money from the purchase of which should be spent on additional research and customization of the medical product (Khan, 2022). Thus, it turns out that the inflated prices of insulin do not entail any other reason than the free fluctuation of financial flows through the pharmacological industry. This is happening precisely in the context of pre-election promises to freeze prices for insulin. This would seem to be the most reasonable and humane legal method due to the fact that insulin belongs to the category of vital drugs, without which a person can literally fall into a coma and die.
An additional complication of the situation is that the bill proposed by the Senate will come into force only in 2023. At the moment, the ranking of prices for a life-saving drug is extremely high and can reach up to several hundred dollars (Khan, 2022). It should be noted that prices could be lower than the proposed $35 since the production of insulin takes no more than $10 from manufacturers. However, considering how devastating a price tag of several hundred dollars can be for a personal or family budget, this bill could bring relief to thousands of people.
Reference
Khan, M, (2022). House votes to cap cost of insulin at $35, bill heads to Senate. ABC News. Web.