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Republicans originally blocked a cap on insulin
www.nbcnews.com
www.nbcnews.com
President Joe Biden praised the move in a tweet, calling on other drugmakers to also lower insulin prices. Biden made insulin costs a focus of his State of the Union speech last month.
The American Diabetes Association also applauded the decision, and encouraged other insulin manufacturers to lower costs.
Insulin makers have faced pressure from members of Congress and advocacy groups to lower the cost of the lifesaving medication. Insulin costs in the U.S. are notoriously high compared to the costs in other countries; the Rand Corporation, a public policy think tank, estimated that in 2018, the average list price for one vial of insulin in the U.S. was $98.70.
Republicans block cap on insulin costs for many Americans from Democratic deal
Republicans stripped out a provision to cap insulin costs at $35 for private insurers, but the Inflation Reduction Act still includes an insulin price cap for seniors on Medicare.
www.nbcnews.comDrugmaker Eli Lilly caps the cost of insulin at $35 a month, bringing relief for millions
The move puts the drugmaker in line with a popular provision in the Inflation Reduction Act that capped the medication’s cost for seniors on Medicare.
www.nbcnews.comPresident Joe Biden praised the move in a tweet, calling on other drugmakers to also lower insulin prices. Biden made insulin costs a focus of his State of the Union speech last month.
The American Diabetes Association also applauded the decision, and encouraged other insulin manufacturers to lower costs.
Insulin makers have faced pressure from members of Congress and advocacy groups to lower the cost of the lifesaving medication. Insulin costs in the U.S. are notoriously high compared to the costs in other countries; the Rand Corporation, a public policy think tank, estimated that in 2018, the average list price for one vial of insulin in the U.S. was $98.70.
