Last Updated on October 26, 2024
Class action lawsuits are being filed against insulin makers since they have reportedly driven up the price of insulin to unaffordable prices. This has left people that rely on insulin to live, in desperate times. People living with diabetes are left with few options. they do their best to afford the drug that was once very attainable but when that is no longer an option what happens to them and their health? The end results are very scary, but very predictable.
Without insulin, we all know what the results will be.
The increase in prices have raised so highly without much reasoning from the companies. Prices vary for all medications but the extremity of the price change is outrageous at about 150 percent or more for the same drug. For an example, a version of insulin called Humalog was priced at about $21 a vial is now priced at $277 a vial. Diabetics have asked for explanations on the increase in pricing, but have not found an answer.
It is time for people with diabetes to fight back and fight for their health. Complaints were filed with three companies; Novo Nordisk, Sanofi U.S., and Eli Lilly. While it seems that all three companies are acknowledging the complaints, they are claiming to ensure that they provide access to their medications for all of their customers. However, they are willing to fight to protect the name of their company.
Now, without willing to budge or truly listen to the needs of their customers, they will have to fight in court. The lawsuit alleges that those actions violate the Racketeer Influenced and Corrupt Organizations Act and state consumer protection laws. Also being investigated are the chances of possibly an illegal price collusion, creating an unfair market advantage to these specific drug companies. The fact that the prices on comparing drugs have raised almost identically in the past 20 years, isn’t necessarily illegal but the margins make it undeniably immoral. Competition should cause companies to lower prices to compete but allegedly they have raised their price and rebates in order to make a larger profit, causing other companies to follow suit.
Anyone that lives with diabetes or knows someone living with diabetes knows how crucial it is for them to have insulin available. These companies are taking that necessity away from them. It should not be considered a luxury to be able to afford needed insulin.
