Other countries exploit America that way. They wait until the costs are incurred and approval is set in the US, and then tell the company they can only sell in that country for less. The company has to get its biggest profit in the country that made the success possible and Americans pay the cost so Canada can get cheaper drugs.
Colorado is being touted in a new model that capping insulin prices works - except that is only because 49 other states did not do it, so companies didn't have to resist.
Anti-science activists have a great deal of influence inside the Democratic party and provide pressure from the other side. They now try to argue that insulin, a GMO since the 1970s, causes diabetes, and we need to go back to the world that paid flunkies like Jeremy Rifkin and murderers like Ted Kennedy wanted to keep - killing cows and pigs for insulin production.
There is no reason the Biden administration has continued to block new insulin companies using FDA morass, both insulin and needles have been well understood for 100 years. A company should be allowed to get into that business if they can show safe manufacturing practices by now but government instead treats any new product like it is claiming to cure cancer, the same reason allergy pens remain high cost. Government need to tell the public they are being protected - often from nothing - blocks out competitors and leaves the Big Pharma that politicians say need to be curtailed as the only ones who can afford to go through the process.
A small company can't afford to wait for 18 months while FDA approves the font color on a label. Yet that is the bulk of what FDA now does.
Colorado cleverly passed a law in 2019 capping monthly out-of-pocket costs at $100 for health insurance plans. A new study cheers what a success it was, average out-of-pocket costs for insulin dropped by 40 percent in two years, but that was because other states could be charged more. It is the same flawed economics that makes rich solar panel owners in Malibu cheer that under "net metering" they can 'sell electricity back to the utility at the same price they buy it' and save Gaia from Big Oil. When the reality is that poor people in Compton are paying much higher electricity costs to subsidize the climate halo of elites.
Colorado left diabetics in other states holding the bill. The US government followed, capping insulin at $35 for Medicare Part D recipients, but Medicare Part D is not the government, it is an extra insurance from the same favored private health care companies chosen by politicians - and it costs a premium.
The solution, instead of capping prices or telling senior citizens to get premium health care supplemental insurance, is to make it easier for smaller companies to get into that market.
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