The Japan Times - US House votes for life-changing $35 insulin price cap

EUR -
AED 4.353382
AFN 77.05154
ALL 96.6659
AMD 452.980789
ANG 2.12196
AOA 1087.011649
ARS 1715.27374
AUD 1.700138
AWG 2.136683
AZN 2.016962
BAM 1.955717
BBD 2.406598
BDT 146.013807
BGN 1.990725
BHD 0.449081
BIF 3539.949869
BMD 1.1854
BND 1.513236
BOB 8.25665
BRL 6.231058
BSD 1.194849
BTN 109.725346
BWP 15.634337
BYN 3.403256
BYR 23233.834642
BZD 2.403098
CAD 1.611918
CDF 2684.930667
CHF 0.911329
CLF 0.026011
CLP 1027.065402
CNY 8.240602
CNH 8.248669
COP 4350.11551
CRC 591.674907
CUC 1.1854
CUP 31.413093
CVE 110.260324
CZK 24.336607
DJF 212.770976
DKK 7.470147
DOP 75.22681
DZD 154.464449
EGP 55.903629
ERN 17.780996
ETB 185.616528
FJD 2.613392
FKP 0.865856
GBP 0.861451
GEL 3.194656
GGP 0.865856
GHS 13.089445
GIP 0.865856
GMD 86.534664
GNF 10484.555345
GTQ 9.164611
GYD 249.979398
HKD 9.259098
HNL 31.537662
HRK 7.536653
HTG 156.373368
HUF 380.868342
IDR 19883.302315
ILS 3.66336
IMP 0.865856
INR 108.694634
IQD 1565.333613
IRR 49934.963672
ISK 144.986215
JEP 0.865856
JMD 187.242059
JOD 0.840447
JPY 183.458423
KES 154.263458
KGS 103.663312
KHR 4804.796226
KMF 491.940791
KPW 1066.859756
KRW 1719.772596
KWD 0.363823
KYD 0.995758
KZT 600.944514
LAK 25713.909461
LBP 106999.862086
LKR 369.514329
LRD 215.370866
LSL 18.971995
LTL 3.500177
LVL 0.717036
LYD 7.497682
MAD 10.83854
MDL 20.097148
MGA 5339.773538
MKD 61.637386
MMK 2489.728817
MNT 4227.587506
MOP 9.608592
MRU 47.674978
MUR 53.852825
MVR 18.326127
MWK 2071.912129
MXN 20.704153
MYR 4.672852
MZN 75.580739
NAD 18.971995
NGN 1643.533583
NIO 43.968135
NOK 11.414558
NPR 175.560554
NZD 1.959292
OMR 0.458021
PAB 1.194849
PEN 3.994931
PGK 5.114783
PHP 69.837845
PKR 334.292423
PLN 4.212869
PYG 8003.660561
QAR 4.356415
RON 5.097103
RSD 117.395021
RUB 90.53616
RWF 1743.326065
SAR 4.447253
SBD 9.54438
SCR 17.20327
SDG 713.019239
SEK 10.549127
SGD 1.506168
SHP 0.889357
SLE 28.834855
SLL 24857.238699
SOS 682.871039
SRD 45.10505
STD 24535.381029
STN 24.498961
SVC 10.454557
SYP 13110.017057
SZL 18.966196
THB 37.222281
TJS 11.154027
TMT 4.148899
TND 3.433054
TOP 2.854158
TRY 51.401896
TTD 8.112656
TWD 37.456216
TZS 3076.769513
UAH 51.211828
UGX 4271.81883
USD 1.1854
UYU 46.368034
UZS 14607.380494
VES 410.078852
VND 30749.268909
VUV 140.815358
WST 3.213359
XAF 655.929182
XAG 0.014004
XAU 0.000244
XCD 3.203602
XCG 2.153409
XDR 0.815765
XOF 655.929182
XPF 119.331742
YER 282.51038
ZAR 19.104199
ZMK 10670.019447
ZMW 23.449006
ZWL 381.698228
  • SCS

    0.0200

    16.14

    +0.12%

  • RBGPF

    1.3800

    83.78

    +1.65%

  • RYCEF

    -0.4300

    16

    -2.69%

  • CMSC

    0.0500

    23.76

    +0.21%

  • BTI

    0.4600

    60.68

    +0.76%

  • VOD

    -0.0600

    14.65

    -0.41%

  • AZN

    0.1800

    92.77

    +0.19%

  • RIO

    -4.1000

    91.03

    -4.5%

  • BCE

    0.3700

    25.86

    +1.43%

  • GSK

    0.9400

    51.6

    +1.82%

  • CMSD

    -0.0400

    24.05

    -0.17%

  • BCC

    0.5100

    80.81

    +0.63%

  • JRI

    0.1400

    13.08

    +1.07%

  • BP

    -0.1600

    37.88

    -0.42%

  • RELX

    -0.3700

    35.8

    -1.03%

  • NGG

    0.2000

    85.27

    +0.23%

US House votes for life-changing $35 insulin price cap
US House votes for life-changing $35 insulin price cap

US House votes for life-changing $35 insulin price cap

US lawmakers voted Thursday on a bill limiting the cost of insulin to $35 a month, a transformative curb for millions of diabetics who pay hundreds of dollars for the life-sustaining hormone.

Text size:

Drug pricing has vexed politicians for years in the United States, which has the highest annual health expenditure of any industrialized country, at around $11,000 per capita.

Insulin costs the 7.4 million American adults who use it to manage their diabetes eight times as much as in other wealthy nations, according to a 2020 study commissioned by the Health and Human Services Department.

"This is a kitchen table issue: are people going to be able to pay their bills? And it is, for us, a step in the direction of the (government) being able to negotiate for lower drug prices beyond insulin," House Speaker Nancy Pelosi told reporters.

The legislation passed the House of Representatives by 232 votes to 193, with a handful of Republicans crossing the aisle to join the Democrats, and now advances to the upper chamber of Congress, the US Senate.

It would require private health insurance companies to set prices for a month's supply of insulin at no more than $35, or 25 percent of a plan's negotiated price, whichever is lower, starting in 2023 for some patients and 2024 for all.

The cap was a provision in President Joe Biden's "Build Back Better" social welfare bill that was torpedoed by Democratic infighting in Congress late last year.

Biden brought the issue back into the spotlight during his State of the Union address on March 1, reinvigorating calls for action on pricing from diabetes advocates.

The effort is being seen as the only way for Democrats to show they're capable of acting on sky-high prescription drug prices before November's midterm elections.

- 'Costing a lot' -

The Senate is holding its own cross-party negotiations on driving down insulin costs by targeting the middlemen between health insurance companies and pharmacies.

And a separate Democrat-only bill from Georgia's Senator Raphael Warnock that would also cap the price at $35 is likely to be combined with the effort.

"I'm a pastor -- I'm on the ground -- and so I know that everybody knows somebody with diabetes," Warnock said in a video promoting his initiative.

Senate Majority Leader Chuck Schumer told reporters last week he believed a bipartisan bill had a good chance of passing when lawmakers return from a break at the end of April.

Research suggests that more than a quarter of Americans with type 1 diabetes have had to ration insulin they could not afford. Campaigners say the proportion went up to 50 percent during the pandemic.

It remains unclear if any legislation can gain the 10 Republican votes needed to advance in the Senate, but some opposition lawmakers have shown interest in an issue that affects voters across the board.

"I'd be for some kind of regulation where we can help. Too many people (are) paying thousands of dollars a month. I'm not big on regulating process, but that one's costing a lot of people a lot of money," Alabama Senator Tommy Tuberville told Axios.

Republicans on the powerful House Ways and Means Committee described the vote as "the largest expansion of federal command and control in Americans' private health insurance design" since the Affordable Care Act, the landmark 2010 regulatory overhaul and expansion of health care coverage.

"Democrats are reviving their socialist drug pricing scheme from their failed radical tax and spending spree," the committee's top Republican Kevin Brady said in a statement.

M.Fujitav--JT