> States have become more ambitious in their policies for tackling the insulin affordability crisis because the scale of the problem continues to grow and the federal government seems capable of taking only limited action to address it.
As if the federal government isn't the one causing the shortage in the first place.
> When a company develops a new drug, it gets a period of exclusivity, 10 years or more, in which it is the only one able to make or sell that drug. But after that exclusivity period has passed, other companies can make a carbon copy and sell it at a lower price. Studies find that once several generic competitors come on the market, prices drop significantly.
# 2 big pharma has hacked regulations for prescription drugs, medical devices and generic replacement to prevent losing federal government granted monopolies.
> But pharma companies are savvy about finding ways to extend their monopolies, with insulin and other drugs, by making minor tweaks to the chemical compound and asking for a patent extension. In the case of insulin, the companies can also modify the delivery device to protect their market share. Each product is meant to be used with specific, company-designed injectors.
Regulations often have the effect of protecting entrenched corporate interests.
Government regulation hurting competition, and hurting the free market by "protecting corporate interests too much" is precisely what people are often complaining about.
Supporting the free market would instead be when you allow competition, and do not protect the entrenched corporations too much.
Copyright and IP laws are probably the quintessential example of government harming the free market by preventing competitors from competing.
"All these safety regulations slow down the free market! Anyone should be able to make and sell insulin! If it's poisonous, people just won't buy that!"
For sure, but also I don't want "Joe's Discount Basement Insulin" to be on the market. I do think we should allow imports of medicines from some places in the world as long as they meet a verifiable safety standard.
We could also just nationalize the drug industry. Public funds pay for research already don't they? Why even let corporations in on this, just do it all ourselves and let the sociopaths go exploit adtech or some shit that's less likely to get people killed.
Insulin is typically delivered by a pump device that monitors patients blood sugar levels and doses accordingly. The pump is a medical device too that is manufactured by the drugco. It only accepts insulin vials from drugco.
It's like the inkjet printers that refuse to use ink from other vendors.
My insulin pumps take any insulin I fill it with. I’ve never heard of pumps that only take a specifically manufactured vial. Which one are you referring to?
Also, the pump manufacturer is not the same company as the insulin manufacturer.
I think what the GP was trying to say is they could easily solve this problem however letting it happen and blabbering about fixing the issue is easier and more profitable than actually doing anything.
As if the federal government isn't the one causing the shortage in the first place.