Eli Lilly to cut insulin prices, cap costs at $35 for many people with diabetes

[Yagents]

Funny, revenue does not equal profit. And if margins are low in 1 product line, the other product lines will go up in price to offset, hurting someone else. Its a corps responsibility to do what's best for shareholders. Dems are financially illiterate.

 

[toolbelt]

Oh, and do I think Eli Lillie cares?

They must care, otherwise Trump wouldn't have put ex-Eli Lilly executive Alex Azar in charge of the nation's healthcare portfolio. And let's not forget Trump's corporate tax cuts, which benefitted Big Pharm by an ADDITIONAL $6B during just the first year they went into effect. But yup, Repubs definitely put lowering prescription drug prices as a top priority. So much so that Trump also changed laws so that Big Pharm could source drugs from cheaper countries rather than enforcing domestic production rules, further increasing their profit margins.

 

[DayTimer]

I wonder who will be blamed when there is disruption in the insulin supply chain when the lower margins are not worth additional expansion. Oh, and I'm sure many will be laid off at lilly. But, dems know whats best for you

You should take a minute to look up insulin production costs. At $35/month Lilly still minting money.

 

[Yagents]

You should take a minute to look up insulin production costs. At $35/month Lilly still minting money.

Cute, you assume inflation of materials wages, shipping, safety protocols, and regulations will remain static. Eventually, Margins will be reduced, and this $35 "copay" won't last. When they raise it to $50, you're type will be the first to call it profiteering

 

[DayTimer]

Cute, you assume inflation of materials wages, shipping, safety protocols, and regulations will remain static. Eventually, Margins will be reduced, and this $35 "copay" won't last. When they raise it to $50, you're type will be the first to call it profiteering

"Your type" lol

You mean the type who stand up for the everyday American workers instead the type who kneels and bootlicks corprate CEO's who are getting getting paid 10's of millions of dollars per year in salary and stock options?

Biosynthesis ended fears of a shortage of animal pancreas, and has made insulin cheap to produce: human insulin has an estimated production cost of US$2.28–3.37 per 1000 unit vial [22]. Allowing for 30% profit, a year's supply for someone who takes 40 units per day should cost less than US$71 per year.Mar 11, 2022

The insulin market reaches 100 - PMC (nih.gov)

 

[Yagents]

"Your type" lol

You mean the type who stand up for the everyday American workers instead the type who kneels and bootlicks corprate CEO's who are getting getting paid 10's of millions of dollars per year in salary and stock options?

Biosynthesis ended fears of a shortage of animal pancreas, and has made insulin cheap to produce: human insulin has an estimated production cost of US$2.28–3.37 per 1000 unit vial [22]. Allowing for 30% profit, a year's supply for someone who takes 40 units per day should cost less than US$71 per year.Mar 11, 2022

The insulin market reaches 100 - PMC (nih.gov)

I'm sure you make good money, and hope you pay your taxes accordingly and donate a % to the working class, and maybe a little towards global warming to save the planet

 

[DayTimer]

 

[WinoBlues]

otherwise Trump

OK, OK, I get it Trump was so much more powerful in his months long political career than say eight years of President Obama and 40 year politician, eight year Vice president Biden. Those two couldn't get it done. In their defense, as in everything else you said the current President has no control over, they were out smarted, out worked or did not really care.

I seem to remember that Obama made some concessions to big pharma for one of his legacies, ACA I think. Maybe his <snicker> shovel ready build back better thing.

To be clear, I am thrilled that insulin is capped at $35. Out of pocket. But I am skeptical that Eli Lilly is not going to collect the difference from me, the tax payor.

 

[straightnochaser]

Oh no, won’t someone think of the poor insurance companies and their profits.

 

[toolbelt]

But I am skeptical that Eli Lilly is not going to collect the difference from me, the tax payor.

So lets all pay 4x higher prices for everything, so that the tax man doesn't compensate by charging higher taxes?