What does the insulin price cap mean for Nebraska and Iowa residents?
OMAHA, Nebraska (Nebraska) — Three of the leading insulin makers are now cutting prices after years of pressure from advocates and more recently the Biden administration.
French company Sanofi was the latest to say it would cap insulin costs to $35 a month for people with private insurance.
He joins Eli Lilly and Dutch company Novo Nordisk in capping monthly spending at $35.
3 News Now anchor Mary Nelson spoke with health policy expert and presidential adviser about the impact.
“Insulin is a life-saving drug that only costs $10 a bottle, and yet we have seen years of drug companies jacking up prices and making this medicine out of reach for people. As a result, we hear horror stories of people rationing this drug, borrowing from family members, making the impossible choice between eating on the table and getting the drugs they need to survive. This is a completely unacceptable situation. That is why the President is working so hard to bring down the cost of medicines across the board, and why we are very pleased to see the private sector responding to the President’s call to action and lowering their costs,” he said. Assistant to President Kristen Linke Young, Health and Veterans Affairs.
According to the American Diabetes Association, more than 37 million Americans have diabetes.
In Iowa, that number exceeds 242,000, or almost 10% of the adult population. It is also estimated that another 70,000 people have it but are not diagnosed.
In Nebraska, more than 141,000 people have been diagnosed. That’s 9.6% of adults and about 44,000 others who unknowingly live with diabetes.
In terms of financial costs, the association has estimated them at $2.6 billion per year in Iowa and $1.4 billion in Nebraska.