California will start making its own insulin to combat high drug prices

Perfect.

Exactly the types of things that governments should be doing.

Alternative solutions when capitalism fails.

 

Well, let's see how much $100M can do. I'm all for a gov option for critical care. Time to try something new given how broken he system is. Ideally, it runs without a loss.

 

It will run a loss sooner or later. Gavin is right in that this is a market failure in capitalism, but Big Pharma will change their tune and prices when the vials reliably hit the shelves.

If that happens, people could use this as a bookmark for price controls. A pricey, but necessary one to convince people healthcare is being sucked dry by short term shareholders and greedy buyback executives.

 

1st - $100m is not enough to start your own manuf of producing insulin, so CA would have to partner with an existing drug manuf to produce and distribute insulin (this means it will still have to work within the "broken" system). Don't be surprised if one of the 3 major insulin makers uses the Court system to slow CA down.

2nd - CA could price it to break even (if run well) because it can price it way below the "market" price and still bring in a hefty profit (maybe enough to offset "free" insulin to those that can't afford one.

3rd - yes, if CA is successful, the market will respond and that is a very good thing

Remember that CA can't run a deficit, so it has to run a tight ship. Very different from the Fed gov.

 

Eli Lilly cuts price of insulin, capping drug at $35 per month : NPR

The moves announced Wednesday promise critical relief to some people with diabetes who can face annual costs of more than $1,000 for insulin they need in order to live. Lilly's changes also come as lawmakers and patient advocates pressure drugmakers to do something about soaring prices.

Lilly said it will cut the list price for its most commonly prescribed insulin, Humalog, and for another insulin, Humulin, by 70% in the fourth quarter, which starts in October. The drugmaker didn't detail what the new prices would be.

Lilly also said Wednesday that it will cut the price of its authorized generic version of Humalog to $25 a vial starting in May.

Lilly CEO David Ricks said in a statement that it will take time for insurers and the pharmacy system to implement its price cuts, so the drugmaker will immediately cap monthly out-of-pocket costs at $35 for people who are not covered by Medicare's prescription drug program.

The drugmaker said the cap applies to people with commercial coverage and at most retail pharmacies.

Lilly said people without insurance can find savings cards to receive insulin for the same amount at its InsulinAffordability.com website.

The federal government in January started applying that cap to patients with coverage through its Medicare program for people age 65 and older or those who have certain disabilities or illnesses.

American Diabetes Association CEO Chuck Henderson said in a statement he applauded the steps Lilly was taking and called for other insulin makers to also cap patient costs.

...

President Joe Biden brought up the cost cap during his annual State of the Union address last month. He called for insulin costs for everyone to be capped at $35.

The state of California has said it plans to explore making its own cheaper insulin. Drugmakers also may face competition from companies like the nonprofit Civica, which plans to produce three insulins at a recommended price of no more than $30 a vial, a spokeswoman said.

Drugmakers may be seeing "the writing on the wall that high prices can't persist forever," said Larry Levitt, an executive vice president with the nonprofit Kaiser Family Foundation, which studies health care.

"Lilly is trying to get out ahead of the issue and look to the public like the good guy," Levitt said.

...

Humulin and Humalog and its authorized generic brought in a total of more than $3 billion in revenue for Lilly last year. They rang up more than $3.5 billion the year before that.

 

hey fake California supporters
Go to California
Get bitten by a snake and go to the hospital
Tell me how much your bill is

@Salvy

 

Repug call that being "woke".





$30 insulin?
On its way to Californians, Gov. Newsom announces Saturday


Gov. Gavin Newsom announced a new state contract on Saturday morning, March 18, that officials say will leverage the state’s generic drug label to bring $30 insulin to California, cutting costs for the medicine by 90% — while saving patients thousands of dollars annually.

The insulin contract, between the the state’s generic drug label CalRx and manufacturer CIVICA, aims to “prevent the egregious cost-shifting that happens in traditional pharmaceutical price games,” according to early details the governor’s office released Saturday morning.

Because the state can manufacture and distribute the insulin itself, patients will be able to buy the medicine for the same price it costs to make it, according to the announcement.

Under the contract, according to Gov Newsom’s office:

• A 10-milliliter vial will be made available for no more than $30 (normally $300).
• A box of five prefilled 3-milliliter pens will be made available for no more than $55 (normally more than $500).
• No new prescription will be needed. Californians will be able to ask for the CalRx generic at their local pharmacy or via mail order pharmacies.
• CalRx plans to make biosimilar insulins available for Glargine, Aspart and Lispro (expected to be interchangeable with Lantus, Humalog, and Novolog

Lowering the price of insulin, and life-saving medications in general, has become a cause célèbre in recent years, both nationally and in California. Repugs conveniently deride it as being "woke"

In 2021, the RAND Corporation released a study that compared the insulin prices of nearly three dozen countries. It found prices in the United States were about 10 times higher than everywhere else. The average price of a vial of insulin in the United States was $98 — while in nearby Canada it was $12.

 

You need to visit LA and go watch a Lakers game
Then give us your opinion or DTLA

 

They don't give a damn about people not being able to afford insulin. Pharmaceutical company profits mean more money in their slimy pockets. . Money, money, money.

 

WTF does your reply have to do with the post you quoted? @Reeko didn't write the words "LA" at all. What does going to a Lakers game have to do with the cost of insulin or what the state of California is doing about it?

 

It has everything to do with it

 

No it doesn’t it just shows your limited ability to process info at high level. Sad but true. Time for an afternoon nap old timer

 

Please explain. Los Angeles is, in fact, in California. I get that part. Still doesn't explain anything else you said.

 

Tin foil is merely projecting his inferiority complex.

 

This is what happens when uneducated people post.

 

@AroundTheWorld
@Os Trigonum @ROXRAN
@basso

they should also make their own fentanyl to compete with the cartels that own their state

 

south california purples.

Spoiler