Kentucky law capping insulin cost for many goes into effect

[progressive hunter]

This seems to be a pretty good summary of the insulin market.

Patents incentivize the creation of new processes and products through two pathways: securing the monetary gains from innovation by excluding others from using that invention for a fixed amount of time, and then democratizing information. In the United States, patent protections last for 20 years. Despite insulin being discovered nearly 100 years ago, many insulin products still benefit from patent protection. How can this be?


The insulin product discovered in 1921 and patented in 1923 was extracted from animals.[31] In 1978, insulin was, for the first time, reproduced from human recombinant DNA; this newly produced human insulin was patented and brought to market in 1982. Several new analog insulin products were developed between 1996 and 2005. The technological advances made over the past century have allowed for improved purity, enhanced concentration, increased supply, less crude extraction processes, easier administration, and varying lengths of effectiveness (reducing the number of injections needed daily) and quickness of onset, as discussed earlier.

Research: Understanding the Insulin Market - AAF

Diabetes is one of the most burdensome diseases in America. This research gives an understanding of the insulin market in the United States.

www.americanactionforum.org

thanks for proving my point,,

 

[idb]

thanks for proving my point,,

That the government is restricting the number of manufacturers?
I think you misunderstand patents.

 

[progressive hunter]

That the government is restricting the number of manufacturers?
I think you misunderstand patents.

I think you misunderstand government control,,

 

[debbiedowner]

Trump capped insulin prices.

Biden removed that cap.

Do you want to laughably claim that Biden cares about Kentuckians?

No, he didn't remove any cap he delayed it.

Biden's White House chief of staff, Ronald Klain, announced a regulatory freeze of “any new and pending rules” as Biden took office on Jan. 20. The freeze on the insulin and epinephrine rule is effective until March 22.

According to Bloomberg Law, "A regulatory pause is a common tradition among incoming presidents to ensure that the unfinished policies from the prior administration align with the new one."

The National Association of Community Health Centers, among others, expressed support for the new administration's move, saying the Trump rule would not have lowered the cost of insulin and EpiPens for most Americans who use them, as advertised.

HHS finalized the rule in late December. But in publishing that final rule, HHS acknowledged "the economic impact is expected to be minimal" since the vast majority of patients who get insulin from community health centers already get discounted medication. In some cases, those patients receive a one-month supply of insulin for just $7, according to the report published in the Federal Register.
And the National Association of Community Health Centers confirmed for VERIFY that its member health centers already pass along their deeply discounted drug prices to the low-income families they serve.
“Their whole mission for 55 years has been to provide low-cost prescriptions and services to low-income families,” said NACHC vice president of media relations Amy Simmons Farber, who also said community health centers opposed the Trump administration plan. “The executive order was a slap in the face because we were already a low-cost alternative to high prescription drug prices. The executive order just created massive red tape. It’s not a good rule.”

VERIFY: Did President Biden just raise the cost of insulin by freezing a Trump administration rule that would have made insulin less expensive?

Some media, politicians and social media users are claiming President Joe Biden raised the cost of insulin during his first week in the Oval Office.

www.wthr.com

 

[daveman]

Interesting...you seem to think that capping the cost of insulin is actually supporting the insulin manufacturers.
I'd like to understand your logic a little better.

You've got it exactly backward. It's really very easy. Trump capped the cost. Biden removed the cap....thus allowing the manufacturers greater profit.

Get it now?

 

[daveman]

The Commonwealth of Kentucky is ruled by the Democrats- not Republicans. Governor Beshear is a leftwing Extremist.

Beshear was elected for one issue only: Teacher's pensions. He promised to fix it. Then COVID happened, and he gladly ignored the issue he was elected to fix. Then he proceeded to exceed his power, and the state legislature slapped him down.

 

[daveman]

No, he didn't remove any cap he delayed it.

Biden's White House chief of staff, Ronald Klain, announced a regulatory freeze of “any new and pending rules” as Biden took office on Jan. 20. The freeze on the insulin and epinephrine rule is effective until March 22.

According to Bloomberg Law, "A regulatory pause is a common tradition among incoming presidents to ensure that the unfinished policies from the prior administration align with the new one."

The National Association of Community Health Centers, among others, expressed support for the new administration's move, saying the Trump rule would not have lowered the cost of insulin and EpiPens for most Americans who use them, as advertised.

HHS finalized the rule in late December. But in publishing that final rule, HHS acknowledged "the economic impact is expected to be minimal" since the vast majority of patients who get insulin from community health centers already get discounted medication. In some cases, those patients receive a one-month supply of insulin for just $7, according to the report published in the Federal Register.
And the National Association of Community Health Centers confirmed for VERIFY that its member health centers already pass along their deeply discounted drug prices to the low-income families they serve.
“Their whole mission for 55 years has been to provide low-cost prescriptions and services to low-income families,” said NACHC vice president of media relations Amy Simmons Farber, who also said community health centers opposed the Trump administration plan. “The executive order was a slap in the face because we were already a low-cost alternative to high prescription drug prices. The executive order just created massive red tape. It’s not a good rule.”

VERIFY: Did President Biden just raise the cost of insulin by freezing a Trump administration rule that would have made insulin less expensive?

Some media, politicians and social media users are claiming President Joe Biden raised the cost of insulin during his first week in the Oval Office.

www.wthr.com

Uh huh. Did Biden lift the freeze on March 22nd?

 

[Rogue AI]

Isn't that called a free market?
The folks wanting insulin can just take their business elsewhere.

That would be market anarchy. There is nothing fundamentally wrong with capping the price on a commodity that is cheaply made, for many reasons.

 

[idb]

That would be market anarchy. There is nothing fundamentally wrong with capping the price on a commodity that is cheaply made, for many reasons.

That can't be right...you're just making shit up.
Marjorie Taylor-Green and other Conservative intellectuals refer to Socialism/Communism and Capitalism as the only two possible market systems.
And only one of them is good.

 

[daveman]

That can't be right...you're just making shit up.
Marjorie Taylor-Green and other Conservative intellectuals refer to Socialism/Communism and Capitalism as the only two possible market systems.

Can you prove that, or are you just making shit up?

 

[Rogue AI]

That can't be right...you're just making shit up.
Marjorie Taylor-Green and other Conservative intellectuals refer to Socialism/Communism and Capitalism as the only two possible market systems.
And only one of them is good.

Perhaps in terms of production, but limitations on distribution and pricing are simply a by product that can apply to any system. Nor would I seek wisdom and clarity from any elected official of any political persuasion.

 

[HenryBHough]

Insulin these days is synthetic. It used to be made from parts of dead pigs. Why not return to the good old days starting with a roundup of the feed stock? Plenty of Democrats running around loose.....

 

[Jarlaxle]

Oh...in that case it must be tyranny by a free-market hating government.

If you think it even resembles a free market, I have a BEAUTIFUL beach house really cheap, an hour north of Wichita.

 

[Jarlaxle]

my mistake,, is there a patent on insulin?? I thought its a substance created by the human body that is reproduced in a lab,,

I thought the patents on most types of insulin ran out decades ago.

 

[Polishprince]

Insulin these days is synthetic. It used to be made from parts of dead pigs. Why not return to the good old days starting with a roundup of the feed stock? Plenty of Democrats running around loose.....

Actually, I understand that Walmart still has the popularly priced pig insulin available. It all isn't as expensive as libs state.

 

[Admiral Rockwell Tory]

Kentucky law capping insulin cost for many goes into effect​

Good. Governor Beshear is undoing the damage Biden did by freezing the Trump cap on prices.

I am a diabetic on insulin. Tell me how this helps me as I pay $98.00 a month with my wife's employer provided prescription health insurance.

I will tell you what will happen. My prescription insurance will pass along the costs to me, so I will be paying hundreds of dollars a month out of pocket to cover their losses in providing $30 insulin to the poor!

 

[Admiral Rockwell Tory]

Moron, nationally it's been in effect for a couple of years. I am a Consultant for an insurance company. Under 65 insulins capped at $35 Medicare at $25. The Insulins simply have to be on the Formulary.

If that is true, why do I pay $98.00 a month for my insulin?

 

[Admiral Rockwell Tory]

The Commonwealth of Kentucky is ruled by the Democrats- not Republicans. Governor Beshear is a leftwing Extremist.

Not true. The legislatures (both House and Senate) are Republican. The only reason Beshear got elected was the previous moron in the office, Matt Bevin, called teachers child molesters and screwed with the state retirement system. Beshear, and the Lt Gov Coleman, are the only Democrats to hold statewide office.

 

[daveman]

I am a diabetic on insulin. Tell me how this helps me as I pay $98.00 a month with my wife's employer provided prescription health insurance.

I will tell you what will happen. My prescription insurance will pass along the costs to me, so I will be paying hundreds of dollars a month out of pocket to cover their losses in providing $30 insulin to the poor!

Unless you're a Kentuckian, it's not going to do anything for you, genius.

 

[Admiral Rockwell Tory]

Unless you're a Kentuckian, it's not going to do anything for you, genius.

Dumbass, why would I comment if I were not?