The Cost of Insulin
Introduction
The cost of insulin is historically known for being high and people have claimed that they are being taken advantage of by big pharmaceutical companies (Big Pharma). To me, it is crazy how from the time of being created to now, the idea of how the insulin should be sold has completely changed.
The Creation
Insulin discovered how to be isolated in 1920 through the work of 4 main individuals. They include Frederick Banting, Dr. John Macleod, Charles Best, and Dr. James Collip. Their accomplishment changed how the world could treat diabetes. In 1923, this team sold the patent for insulin which they ended up selling to the University of Toronto for $1.00 each. Yes you read that correctly, $1.00. Banting is quoted in saying, "insulin belongs to the world, not to me."
(A bottle of insulin produced by Connaught Labs in 1923)
The Transition
The founders of insulin wanted their discovery to be shared with the world to help as many people as possible. They weren't looking for a profit and to take advantage of those in need. Instead, they knew people needed a treatment for their disease and they found this treatment that could be affordable.
Once the patent was sold to the University of Toronto, that next challenge was how to mass produce the insulin to make it available to everyone who needs it. The university needed help from a pharmaceutical production facility; thus Eli Lilly and Co. was allowed to produce insulin in exchange for a one year distribution monopoly. The cost of a 3 mL bottle of insulin (300 units) was $15 at this time (5 cents a unit).
Price Increases
Between the years of 2003 and 2012, the price of insulin in the U.S. tripled. I personally find it hard to believe that this cost is justified and has an actual purpose rather than exploiting customers who are required to purchase the medicine. There were no new discoveries made, no new technologies to increase production, and nothing else that should've made that dramatic of a price increase.
Conclusion
Big Pharma has been under fire many times in the past not just for insulin prices, but the prices of other drugs as well. In my eyes, the price increases are simply to take advantage of people with diabetes because if they don't purchase or have insulin, they face future health problems or even death. People with diabetes had to make sacrifices to be able to afford the insulin they need to stay healthy.
I really don't understand the transition from the founders wanting to make the discovery of insulin be available to everyone in need for a low cost, to now Big Pharma companies taking advantage of the situation at hand. I have heard time and time again that a new bill is being passed in the senate to lower the cost of insulin but I have never seen such effects actually take place. I am tired of being lied to and being taken advantage of by Big Pharma companies so they can line their pockets with extra money and I'm sure other of you feel the same way. Hopefully one day we are taken seriously and given actual results on the matter at hand.
Information about the discovery of insulin and the transition from patent to mass production is credited to https://bantinghousenhs.ca/2018/12/14/insulin-patent-sold-for-1/. Visit the website to read more in-depth information about this process.
If you have any questions about the cost of insulin or want more information about my experience, feel free to contact me! This is done by clicking the "Contact" link at the top of the page and filling out the form. Or you can always leave a comment below!
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