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Price of insulin

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Price of insulin

Postby jameseboy » Fri May 17, 2019 10:58 pm

Was watching a show about the price of insulin going from around 40$ a few years back to $350. First thought is drug companies ripping folks off. Got to looking on the net and two sources said the drug companies were not netting any greater profit than they did years ago. The large drug insurance providers demand lower prices and drug companies have to sell on such a narrow margin to them and to the govt. they charge more for it over the counter to maintain a net profit. Same drugs sold here for $350 sell in Canada for $35.

People pile on the drug companies but if they dont make a profit they will just not try to make any new medications, just make and sell aspiren and such. Its like too many things in this country where the way it is just isnt right but simple solutions dont solve the problems...
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Re: Price of insulin

Postby bowhunterfanatic » Sat May 18, 2019 7:50 am

I wouldn’t trust those two sources at all. The drug companies are absolutely making a higher profit on insulin in the US. However, insurance companies are absolutely making a killing off of it as well. They do this by charging pharmacies what’s called a DIR fee for any prescription filled on a Medicare or MedicId plan. It’s fairly complicated, but the short of it is 3-6 months after filling the prescription they “claw back” a certain amount of money from each prescription. Of course the higher the gross sale price the more they take back. I was looking at some of my claim last week and they had taken back $40-$50 dollars on most of my insulin scripts. So what was once a decent profit turns into a loss. It’s a nightmare for pharmacies and it’s causing a lot of independents to have to close down.
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Re: Price of insulin

Postby huntintn » Sat May 18, 2019 8:42 am

The drug companies look to Americans to fund research, not other countries. Canada has "free" healthcare so the goverment ask why the drug is so high. US goverment don't care, politicians have good insurance and buddies in drug companies.

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Re: Price of insulin

Postby magician » Sat May 18, 2019 8:55 am

You do know that Big Pharm was the first group to jump in bed with Obamacare.

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Re: Price of insulin

Postby huntintn » Sat May 18, 2019 9:06 am

magician wrote:You do know that Big Pharm was the first group to jump in bed with Obamacare.

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Don't matter democrats or republicans, their all lining those pockets. Politics is a profession now, not a privilege to serve like it should be.

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Re: Price of insulin

Postby magician » Sat May 18, 2019 9:12 am

huntintn wrote:
magician wrote:You do know that Big Pharm was the first group to jump in bed with Obamacare.

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Don't matter democrats or republicans, their all lining those pockets. Politics is a profession now, not a privilege to serve like it should be.

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Yep, it's been that way for a long time and I can't see any end to it. Sad

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Re: Price of insulin

Postby huntintn » Sat May 18, 2019 9:17 am

magician wrote:
huntintn wrote:
magician wrote:You do know that Big Pharm was the first group to jump in bed with Obamacare.

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Don't matter democrats or republicans, their all lining those pockets. Politics is a profession now, not a privilege to serve like it should be.

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Yep, it's been that way for a long time and I can't see any end to it. Sad

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Put them in the same healthcare system as us it would change. I've allways said if it's good enough for the common folks it's good enough for them. They should not he able to opt out of social security and they should have to use medicare as theirs form of health insurance. Then they would fix some stuff for the vets and seniors.

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Re: Price of insulin

Postby TX300mag » Sat May 18, 2019 9:22 am

I had a medication I was prescribed with directions to take every day for the rest of my life.

A company renewed a patent on it somehow and it went from $6/month to $300/month. I found a new doctor and got off of it nearly three years ago-turned out I didn’t need it as badly as I was told. Needless to say, I got a new doctor.


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Re: Price of insulin

Postby huntintn » Sat May 18, 2019 9:28 am

TX300mag wrote:I had a medication I was prescribed with directions to take every day for the rest of my life.

A company renewed a patent on it somehow and it went from $6/month to $300/month. I found a new doctor and got off of it nearly three years ago-turned out I didn’t need it as badly as I was told. Needless to say, I got a new doctor.


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My cancer medicine was quoted to me for $1800 a month, getting same pill, through a different source set up by my doctor, $8 a month. $1800 is what the insurance would have to pay for a$8 a month pill.

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Re: Price of insulin

Postby Laserman1 » Sat May 18, 2019 11:44 am

What people forget is the billions of dollars the pharma puts out for research for years before the drug can come on the market. They have to make that money up somehow. Then their drug comes of formulary and a generic version is available for a cheaper price because that company paid nothing for the research and development of that drug.
Kinda like people getting mad at what doctors make. They forget while they hunted and fished the Doctor was busting his butt for 12 years in school and also racking up massive student loans. Your price also helps pay for the people that won’t or can’t pay for their healthcare of meds.
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Re: Price of insulin

Postby huntintn » Sat May 18, 2019 12:13 pm

Laserman1 wrote:What people forget is the billions of dollars the pharma puts out for research for years before the drug can come on the market. They have to make that money up somehow. Then their drug comes of formulary and a generic version is available for a cheaper price because that company paid nothing for the research and development of that drug.
Kinda like people getting mad at what doctors make. They forget while they hunted and fished the Doctor was busting his butt for 12 years in school and also racking up massive student loans. Your price also helps pay for the people that won’t or can’t pay for their healthcare of meds.
I understand this, but why sell that drug for $8 in Canada and charge $1800 here. Research charges should be spread all around not just here where were picking up the tap.

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Re: Price of insulin

Postby Laserman1 » Sat May 18, 2019 3:19 pm

Because it’s not regulated in Canada as it is here. Same thing with Mexico. Why you people go to Mexico to get surgeries that are not approved, or are half the cost. Because they have different medical standards than we do.
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Re: Price of insulin

Postby huntintn » Sat May 18, 2019 3:29 pm

Laserman1 wrote:Because it’s not regulated in Canada as it is here. Same thing with Mexico. Why you people go to Mexico to get surgeries that are not approved, or are half the cost. Because they have different medical standards than we do.
Its the same pill, shipped from the same supplier in the US

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Re: Price of insulin

Postby Laserman1 » Sat May 18, 2019 6:14 pm

FYI. The FDA requires 2 trials for a drug to be indicated for a certain condition. Each drug trial cost upwards of 30 million. Canada and Mexico doesn’t have to do those trials to get the drug approved. Next question.
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Re: Price of insulin

Postby TX300mag » Sat May 18, 2019 9:19 pm

I had a doctor tell me that he recommended his patients taking my medicine to take a cruise to Mexico and buy a few months worth there. It would be cheaper even after paying for the cruise.




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Re: Price of insulin

Postby Zulu » Sun May 19, 2019 10:50 am

huntintn wrote:I understand this, but why sell that drug for $8 in Canada and charge $1800 here. Research charges should be spread all around not just here where were picking up the tap.


Bingo! You hit the nail on the head. US consumers are picking up the R&D expenses for the rest of the world. I wish we had a law stating the pharmaceutical companies could not charge more for a drug in the US than they charge in any other country. Imagine the outcry from around the world as their drug supplies either dried up or their costs increased by 10,000%.
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Re: Price of insulin

Postby MAGA » Tue May 21, 2019 3:01 am

Laserman1 wrote:FYI. The FDA requires 2 trials for a drug to be indicated for a certain condition. Each drug trial cost upwards of 30 million. Canada and Mexico doesn’t have to do those trials to get the drug approved. Next question.


This has nothing to do with the obscene prices of pharma drugs. HTH
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Re: Price of insulin

Postby MAGA » Tue May 21, 2019 3:04 am

Zulu wrote:
huntintn wrote:I understand this, but why sell that drug for $8 in Canada and charge $1800 here. Research charges should be spread all around not just here where were picking up the tap.


Bingo! You hit the nail on the head. US consumers are picking up the R&D expenses for the rest of the world. I wish we had a law stating the pharmaceutical companies could not charge more for a drug in the US than they charge in any other country. Imagine the outcry from around the world as their drug supplies either dried up or their costs increased by 10,000%.


Exactly. Which is why "universal healthcare" in America would never work under the current conditions. The only reason why "universal healthcare" works in other countries (e.g. Western European countries) is because Americans subsidize their defense necessities and foot the bill for all pharma R&D. Basically, it's easy to have "universal healthcare" when someone else is footing the bill.
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Re: Price of insulin

Postby farmin68 » Tue May 21, 2019 9:04 am

bowhunterfanatic wrote:I wouldn’t trust those two sources at all. The drug companies are absolutely making a higher profit on insulin in the US. However, insurance companies are absolutely making a killing off of it as well. They do this by charging pharmacies what’s called a DIR fee for any prescription filled on a Medicare or MedicId plan. It’s fairly complicated, but the short of it is 3-6 months after filling the prescription they “claw back” a certain amount of money from each prescription. Of course the higher the gross sale price the more they take back. I was looking at some of my claim last week and they had taken back $40-$50 dollars on most of my insulin scripts. So what was once a decent profit turns into a loss. It’s a nightmare for pharmacies and it’s causing a lot of independents to have to close down.


Did this start with Obamacare?
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