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1/ On this #MonopolyMonday & in honor of World Diabetes Day (last Saturday), we’re spotlighting the three corporations that dominate the insulin industry — @LillyPad, @sanofi, and @novonordisk. 
2/ @LillyPad, @sanofi & @novonordisk control nearly 100% of the U.S. insulin supply.
Their dominance allows them to raise prices at will. Which they have. Repeatedly.
All…at the same time…
https://www.businessinsider.com/rising-insulin-prices-track-competitors-closely-2016-9?r=UK
Their dominance allows them to raise prices at will. Which they have. Repeatedly.
All…at the same time…
https://www.businessinsider.com/rising-insulin-prices-track-competitors-closely-2016-9?r=UK
3/ In a 2016 letter to the FTC & DOJ, @SenSanders & @RepCummings said “We are concerned the potential coordination by these drug makers may not simply be a case of ‘shadow pricing’ but may indicate possible collusion…this egregious behavior warrants a thorough investigation.”
4/ That investigation is still needed.
As many as 1 in 4 people w/ diabetes can't afford their insulin & ration or stop taking it b/c of cost.
At least 13 Americans have died from rationing insulin in recent years, w/ more deaths unreported.
All b/c of industry concentration.
As many as 1 in 4 people w/ diabetes can't afford their insulin & ration or stop taking it b/c of cost.
At least 13 Americans have died from rationing insulin in recent years, w/ more deaths unreported.
All b/c of industry concentration.
5/ The insanely high prices of insulin affect everyone, but the burden falls hardest on Black & minority patients with diabetes.
Compared to whites, Black patients have twice the mortality rate from diabetes.
Learn more in @ACRECampaigns' report
https://acrecampaigns.org/wp-content/uploads/2020/08/new-poison-final.pdf
Compared to whites, Black patients have twice the mortality rate from diabetes.
Learn more in @ACRECampaigns' report
https://acrecampaigns.org/wp-content/uploads/2020/08/new-poison-final.pdf
6/ Complications from uncontrolled diabetes (which, obviously, links back to insanely high insulin prices) has been one of the key causes behind the “epidemic” of amputations among Black Americans. https://features.propublica.org/diabetes-amputations/black-american-amputation-epidemic/
7/ Fortunately, lowering the cost of insulin is a bipartisan issue.
In an April 2019 hearing w/ @LillyPad, @sanofi, & @novonordisk executives, members of Congress on both sides of the aisle made it clear that high insulin prices are unacceptable. https://www.cnn.com/2019/04/10/health/insulin-prices-congressional-hearing-bn/index.html
In an April 2019 hearing w/ @LillyPad, @sanofi, & @novonordisk executives, members of Congress on both sides of the aisle made it clear that high insulin prices are unacceptable. https://www.cnn.com/2019/04/10/health/insulin-prices-congressional-hearing-bn/index.html
8/8 In short, the oligopoly holders on insulin are responsible for raising prices and harming patients with diabetes across the U.S.
@LillyPad, @sanofi, and @novonordisk must be investigated before more lives are lost.
@LillyPad, @sanofi, and @novonordisk must be investigated before more lives are lost.
