This isn't going to be popular to say but...the best way to decrease a price is to decrease demand.
~5% of Diabetes is Type 1; not preventable.
The other 95% is Type 2 and a very high percentage of those are preventable.
Yet instead of prevention, we (in The West, particularly the US) are increasing Type 2 cases.
The irony? Lower the price of something and it increases demand. Without the deterrent (i.e., higher price) what's going to stop the persistent tend of more and more Type 2?
The FTC action is helpful, but when are we going to truly address the root problem?
Most diabetes is type 2, but not all type 2 diabetes requires insulin, and it won't help. The body is still producing insulin. Only extreme cases require more of it.
The main medication for type 2 diabetes is metformin, which regulates glucose production. I don't have figures, but most type 2 diabetics don't use insulin, and use much less of it when they do. They're not the key driver here.
People should absolutely use diet and lifestyle to prevent type 2 diabetes. But this action is targeted primarily at type 1 diabetics, who use most of the insulin and who absolutely depend on it. They need it continuously, and become disabled within hours of not getting it, no matter how well they eat or how they exercise.
I just don't see lower prices increasing demand. I'm sure there is a swath of type-2 diabetics who would take insulin but can't afford it, but that's a sliver of the people between those already taking it and those who don't need it.
There must be somebody saying, "At last, cheap insulin, now I can give up my diet and exercise program", but I'm just not expecting that to be all that many people.
> I just don't see lower prices increasing demand.
What makes insulin - or any drug - immune to basic economics?
- Given the current cost certainly some have been "forced" to make lifestyle changes and avoid the treatment. Lower the cost and you "encourage" these people not to change their behavior.
- Given the current cost certainly some have not been able to afford the treatment, but lowering the cost will change that.
Cost of X has "side effects". Prescription drugs are no exception.
Most Type 2 diabetes is not treated with Insulin. About 7.4%. This means that roughly 60% of Insulin users are type 2 diabetics... Yeesh! Especially considering that Type 2 is caused by excess insulin.
~5% of Diabetes is Type 1; not preventable.
The other 95% is Type 2 and a very high percentage of those are preventable.
Yet instead of prevention, we (in The West, particularly the US) are increasing Type 2 cases.
The irony? Lower the price of something and it increases demand. Without the deterrent (i.e., higher price) what's going to stop the persistent tend of more and more Type 2?
The FTC action is helpful, but when are we going to truly address the root problem?