Insulin Shortage: A Crisis

The Insulin Crisis

Insulin is a hormone that regulates blood sugar levels in the body. It is essential for people with diabetes to manage their condition, and without it, they can suffer from serious health complications. However, the cost of insulin has been rising steadily over the years, making it difficult for many people to afford. This has led to an insulin crisis, where people are rationing their insulin or going without it altogether.

The Cost of Insulin

The cost of insulin has increased dramatically over the past few decades. In the 1990s, a vial of insulin cost around $20. Today, that same vial can cost over $300. This increase in price has made it difficult for many people to afford the insulin they need to manage their diabetes. According to a study by the American Diabetes Association, one in four people with diabetes have reported rationing their insulin due to cost.

The high cost of insulin is due to a variety of factors. One of the main reasons is the lack of competition in the insulin market. There are only three major insulin manufacturers in the United States, and they have a near-monopoly on the market. This allows them to set high prices without fear of losing customers to competitors. Additionally, the complex manufacturing process of insulin makes it difficult for new companies to enter the market and compete on price.

The Consequences of the Insulin Crisis

The insulin crisis has had serious consequences for people with diabetes. Rationing insulin can lead to dangerous health complications, such as diabetic ketoacidosis, which can be life-threatening. Going without insulin altogether can lead to coma or death. In addition to the health risks, the financial burden of insulin can also lead to other problems, such as bankruptcy or debt.

There have been efforts to address the insulin crisis, such as legislation to increase competition in the insulin market and to cap the price of insulin. However, these efforts have been met with resistance from the insulin manufacturers and their lobbyists. Until there is a significant change in the insulin market, the insulin crisis will continue to be a major issue for people with diabetes.

In conclusion, the insulin crisis is a serious issue that needs to be addressed. The high cost of insulin is making it difficult for many people to manage their diabetes, and the consequences can be life-threatening. Efforts to increase competition in the insulin market and to cap the price of insulin are necessary to ensure that people with diabetes have access to the medication they need to stay healthy.

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The Insulin Crisis

Sen. Bernie Sanders’s prepared remarks at the opening of the Senate Health, Education, Labor, and Pensions Committee’s  hearing titled “The Need to Make Insulin Affordable for All Americans.” First, let me begin by thanking the CEOs of Eli Lilly, Sanofi and Novo Nordisk – the three major manufacturers of insulin – as well as the heads of CVS/Caremark, Express Scripts, and Optum Rx – the three major Pharmacy Benefit Managers – for being with us today. You all had to juggle busy schedules and I appreciate your willingness to be here today. I also want to take this opportunity to thank Eli Lilly, Sanofi and Novo Nordisk for, in recent months, substantially lowering their lists prices for some of their

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