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JohnJason

Discounts from Lilly for insulin

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JohnJason

According to a news story on Nightly Business Report (PBS) starting January 1 Lilly will start offering discounts up to 40% on their insulin for people without insurance or who have high deductibles. And a recent Wall Street Journal story added responses from other pharmas that they were looking into the same thing.

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NoraWI

Doesn't make sense to me. Pharmaceuticals manufacture the insulin and are the ones responsible for raising the prices in the first place. Why don't they just lower their prices again?

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dowling gram

Doesn't make sense to me. Pharmaceuticals manufacture the insulin and are the ones responsible for raising the prices in the first place. Why don't they just lower their prices again?

If they lowered the prices they wouldn't make good fellows of themselves by offering a discount.

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NoraWI

Eli Lilly was the original source of all the over-the-counter insulins, including Ultra Lente (a very popular and effective basal insulin), which they stopped making some 10 years ago. I believe it was due to collusion with manufacturers of the recombined patented basals in exchange for noncompete on other drugs. No proof of this. Just my gut feeling. Super-capitalism in health care makes me sick to my stomach! NO! Don't give me a pill for that! :(

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JohnSchroeder

its because the price has gotten high enough now that people (like me) are finding alternative brands.  By doing this, not only do they get a PR win but they can reduce the number of customers that are bailing on them.

 

While still getting absurdly high revenues from insurance/pharmacy managers.

 

Edit:  here is the official press release

https://investor.lilly.com/releasedetail.cfm?ReleaseID=1003887

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GrammaBear

The same insulin in Canada is priced way lower than it is priced in the USA.  That doesn't say much good about our system here.

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dowling gram

The same insulin in Canada is priced way lower than it is priced in the USA.  That doesn't say much good about our system here.

Our government controls the price of drugs by putting a ceiling on what they can charge and limiting the patent time where they are the sole producers of a drug. Once the patent is up any genaric company can produce the drug if they follow government guidelines. That's why we have cheaper drugs in Canada

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jims_forum

The same insulin in Canada is priced way lower than it is priced in the USA.  That doesn't say much good about our system here.

GrammaBear on target. The standard vial they had been making for years sold for $ 26. Today in US , same crap is $ 260 dollars.

 

The buggers need a 1970 keefaufer commission and put drug company execs in Jail again. Maybe the creeps have stopped all the excess political donations to Clinton Foundation et all. Epipen got clobbered over this!

 

If all you take is one drug, one can find ways to try and work. Forget it on insulin, blood pressure pills, afib pills! Talk about a bunch of Buccaneers and pirates - the lot! Marketing costs my butt, it is all the markups , graft and payola embedded is cruel and obscene!

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