By DYLAN SHACKLETT/ Talon Contributor
Insulin cost has grown 600% since 2002, according to NPR, leaving many diabetics struggling to buy the drugs that keep them alive.
Insulin was discovered by researchers at the University of Toronto in 1921 and originaly sold for $3. The researchers wanted anyone who needed the medication be able to afford it. Since then insulin cost has skyrocketed.
In the United States, drug manufacturers Sanofi, Eli Lilly and Novo Nordisk are the only ones that make insulin. With only three major companies making insulin, the demand-pull inflation for insulin has dramatically increased with the rise of more diabetics each year.
Another possible reason for the growing cost is due to of Evergreening. Companies, usually pharmaceutical ones , will moderately change drug formulas or shipping procedures to lengthen their government patents.
According to NPR, over the last two decades, the cost of insulin cost has increased by over 600%. Since 2002, people with hardly any health insurance have had to pay exceeding amounts of money, up to $1,000 a month.
Jimmy Stanton, a diabetic, says he spends “$450 on two types of insulin,” on average a month.
“People don’t know what exactly diabetics go through on a day to day basis,” Stanton said. “If they would walk a mile in our shoes, they would understand we have complicated lives.”
Insulin is an essential medication that everyone must produce to live. The pancreas creates enzymes that help stabilize blood sugar. For diabetics, their bodies can’t make enough enzymes or sometimes none at all.
Ken Wink, associate dean of the College of Arts and Sciences, says that diabetes “becomes a part of your life” and changes the outlook on eating, medications and insurance.
For many diabetics, it becomes a challenge to find an affordable health plan while paying for other bills.
“If you don’t have insurance it’s not very affordable,” Wink said. “It’s one of those things as a diabetic, you just can’t live without it.”
According to TIME, diabetics who struggle financially to pay for food, rent and also buy a vial of life-saving insulin. Over time, U.S. presidents have tried to help with the cost of insulin, but are only able to help a small fraction of those who qualify for it.
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