It is lack of Government regulation that has caused these prices...
US government doesn't regulate prices. Democrats have tried and they have been stopped by Republicans..
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.cnbc.com
GOP have bowed to Big Pharma and have stopped it at the Senate as Democrats could only get 7 votes when they needed 10.
So stop blaming Democrats or Biden, I know it your default.
The drug companies use evergreening of drugs like insulin to keep prices high. This is a method of releasing a new version of insulin every few years (as patents run out) and remove the old drug from the market. This also kills any generics, there is an average of 95% reduction in drug prices if 6 or more generics sell the same drug as previous one under patent.
The numbers don't lie and the facts are that the GOP is the ones digging in the heels here.
"Republicans decried what they have
called “socialist” government interference in the free market. “Today it’s the government fixing the price on insulin,”
said Rep. Cathy McMorris Rodgers (R-Wash.), the top Republican on the House Energy and Commerce Committee. “What’s next, gas? Food?”
So it is not Democrats... Democrats have tried bi-partisan approach but with big Pharma lobbying it is very hard to get 10 GOP senators.