Gottlieb’s Idea To Help Lower Insulin Prices By Encouraging Competition Doesn’t Impress Industry Experts
"The starting point is very different for insulin," said Andrew Mulcahy, a policy researcher. "Will more competitors help bring down prices further? Yes, but it's starting off from a place where there is already some of that price competition." Meanwhile, lawmakers in Minnesota, where some diabetics say they are rationing insulin, consider price controls due to the high costs.
FDA Says New Rules Should Increase Competition For Insulin, But Others Aren't As Sure
A move by the Food and Drug Administration to promote more competition for the production and sale of insulin was greeted coolly by some in the industry who said its potential for encouraging competition and spurring lower prices is overvalued. They say there already are insulin options available and the regulatory path the FDA is targeting—one for drugs known as biosimilars—has not seen many generics enter the market in the last three years. Even though the insulin market is relatively small compared to other widely used medications, the several that do exist limit the potential size for a generic insulin market, according to experts. (Johnson, 12/11)
The Star Tribune:
Soaring Insulin Prices Cause Minn. Lawmakers To Draft Remedies
A group of state legislators said Tuesday that it is considering regulations — even price controls — to rein in the soaring cost of insulin, which has crimped the budgets of thousands of Minnesota families and caused some diabetics to ration the medication. With more than 460,000 diabetics in Minnesota, legislators say they are hearing many complaints from frustrated and worried constituents. Rationing insulin can lead to illness, even death. (Howatt, 12/12)