Illinois governor signs law capping insulin costs at $100 per month

Re:Illinois governor signs law capping insulin costs at $100... by save_ferris on Wednesday January 29, 2020 @12:06PM (#22182918)

> Theoretically, price caps can be set low enough that no one will produce and sell an item.

But studies show that the US currently pays as much as 7x what the UK does for insulin[0]. How can insulin be so cheap in some places but so expensive in others to the point that manufacturers stop making it?

0: https://insulinnation.com/treatment/u-s-pays-much-uk-insulin...

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Re:Illinois governor signs law capping insulin costs at $100... by vasilipupkin on Wednesday January 29, 2020 @12:39PM (#22183388)

because UK subsidizes it. But UK residents pay 33% of GDP in taxes vs US pays only 27%, according to this https://www.oecd.org/tax/tax-policy/global-revenue-statistic...

so it comes out of the higher taxes.

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Re:Illinois governor signs law capping insulin costs at $100... by djpowell on Wednesday January 29, 2020 @01:13PM (#22183867)

Those prices have nothing to do with subsidies. It is showing that the NHS pays a fraction of the US prices for the same insulins.

Diabetics are exempt from all out-of-pocket prescription charges though, so that part is subsidized.

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Re:Illinois governor signs law capping insulin costs at $100... by AdrianB1 on Wednesday January 29, 2020 @01:39PM (#22184239)

Then why isn't US buying insulin from UK's suppliers at a fraction of the current price?

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