OnDemand WTP Pricing Research

Sarbanes calls insulin-pricing system ‘hocus pocus’ | Capital Gazette

U.S. Rep. John Sarbanes on Wednesday criticized insulin producers for their lack of transparency in setting prices.

“I do not buy the argument that the patient is going to be worse off, the consumer is going to be worse off, if we have complete transparency,” the Baltimore County Democrat said at a hearing by the House Energy and Commerce Committee’s oversight and reform subcommittee. “I think the lack of transparency is allowing for a lot of manipulation.”

Nearly 10 percent of the U.S. population has diabetes, according to the Centers for Disease Control and Prevention. Of those, around 10 million have chronic kidney failure and require a kidney transplant in addition to regular insulin treatment to stay alive.

But it’s hard to depend on insulin when the price of the drug for dependent patients is increasing every year, the committee’s chairwoman, Rep. Diana DeGette, D-Colorado, said in her opening statement.

Read complete article here:

Sarbanes calls insulin-pricing system ‘hocus pocus’ – Capital Gazette.