The U.S. House passed a bill sponsored by Rep. Angie Craig, from Minnesota’s 2nd Congressional District, that would cap out-of-pocket costs for insulin at $35 per month, reported WCCO.
St. Paul’s Reparations Legislative Advisory Committee will host community sessions in April to explain the work it has done, reported the Pioneer Press’ Frederick Melo.
The coffee shop in the Minneapolis Central Library will be reopened as Mocha Momma’s Coffee by nonprofit Mobilizing And Releasing Caring Hearts, reported Brianna Kelly in the Minneapolis/St. Paul Business Journal.
A woman who crashed her car in Silver Lake was struck while walking outside her vehicle by the vehicle of a first responder responding to the accident, reported Shaymus McLaughlin in Bring Me The News.
Researchers traced the genetic origins of the Honeycrisp apple back to the Duchess of Oldenburg apple and the Reinette Franche apple, reported Fox9.
The Minnesota Twins were considering pushing their home opener, currently scheduled for Thursday, back to Friday due to snow in the forecast, reported Dana Thiede for KARE11.
Lindstrom Bakery is closed again, reported McLaughlin in Bring Me The News.
I hope the Senate passes Angie Craig’s insulin cap bill, so important to many people!
Instead of more government spending by the likes of Angie Craig she should look into the reason these companies are allowed to charge the prices they do.
A 2018 study estimated that one vial of human insulin costs $2.28-$3.42 to produce, and one vial of analog insulin costs $3.69-$6.16 to produce. The study revealed that a year’s supply of human insulin could cost $48-$71 per patient, and analog insulin could cost $78-$133 per patient per year.
Several factors keep insulin prices high:
There are only three major insulin makers worldwide. With little competition, they can set whatever prices they want.
It is difficult and cost-prohibitive to develop a generic version. In the drug industry, drugmakers can submit research to the FDA for other medications if they can prove that the two drugs are chemically the same. But the FDA does not allow you to use the same research for biologic insulin products. That means bringing generic insulin to market becomes a costly endeavor, leaving only brand-name drugs available.
As with the pharmaceutical companies, there is a lack of competition in the PBMs, giving companies, such as CVS Caremark and Express Script, the ability to make their own rules. Hirsch indicates that in 2013, CVS Caremark had revenues of $123 billion, and Express Script was at $94 billion.
Higher levels of competition would lower prices, increasing the affordability of insulin.
Check the amount she has received from medical and pharma and you will see why she has not proposed fixing the real problem and instead do the typical democrat thing and throw tax dollars at it.