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

USD -
AED 3.673013
AFN 67.701997
ALL 84.120616
AMD 376.86036
ANG 1.789699
AOA 917.000149
ARS 1351.296604
AUD 1.54457
AWG 1.8025
AZN 1.698788
BAM 1.687416
BBD 1.988007
BDT 120.374445
BGN 1.687416
BHD 0.374445
BIF 2935.507528
BMD 1
BND 1.278461
BOB 6.803848
BRL 5.538499
BSD 0.984686
BTN 86.116216
BWP 13.508477
BYN 3.222208
BYR 19600
BZD 1.977827
CAD 1.377865
CDF 2890.000056
CHF 0.804605
CLF 0.024446
CLP 958.992278
CNY 7.211797
CNH 7.18591
COP 4124.17
CRC 497.476382
CUC 1
CUP 26.5
CVE 95.133946
CZK 21.2141
DJF 175.333247
DKK 6.44252
DOP 59.842112
DZD 130.120357
EGP 48.371487
ERN 15
ETB 135.820974
EUR 0.86337
FJD 2.2615
FKP 0.753274
GBP 0.75295
GEL 2.699662
GGP 0.753274
GHS 10.338639
GIP 0.753274
GMD 72.502932
GNF 8539.752383
GTQ 7.557051
GYD 205.99629
HKD 7.849725
HNL 25.874639
HRK 6.502502
HTG 128.898667
HUF 343.3797
IDR 16490
ILS 3.41787
IMP 0.753274
INR 87.245498
IQD 1289.849446
IRR 42112.497456
ISK 123.029776
JEP 0.753274
JMD 157.939692
JOD 0.708967
JPY 147.320055
KES 127.21011
KGS 87.449875
KHR 3945.472585
KMF 427.505074
KPW 899.999999
KRW 1389.47041
KWD 0.30527
KYD 0.8205
KZT 534.360036
LAK 21292.437772
LBP 88226.909969
LKR 296.665373
LRD 197.411673
LSL 18.03615
LTL 2.95274
LVL 0.60489
LYD 5.379406
MAD 9.016608
MDL 16.955265
MGA 4469.177344
MKD 53.112463
MMK 2099.252476
MNT 3592.88442
MOP 7.960657
MRU 39.275269
MUR 46.75011
MVR 15.400748
MWK 1707.346534
MXN 18.86903
MYR 4.244973
MZN 63.960123
NAD 18.03615
NGN 1509.02995
NIO 36.236573
NOK 10.254665
NPR 137.786118
NZD 1.691132
OMR 0.381882
PAB 0.984599
PEN 3.537207
PGK 4.147362
PHP 57.719922
PKR 279.383202
PLN 3.683748
PYG 7375.005392
QAR 3.580087
RON 4.378697
RSD 101.065528
RUB 79.134269
RWF 1422.285492
SAR 3.751201
SBD 8.264604
SCR 14.458134
SDG 600.501945
SEK 9.651605
SGD 1.288255
SHP 0.785843
SLE 22.99965
SLL 20969.503947
SOS 562.702213
SRD 36.840283
STD 20697.981008
STN 21.138001
SVC 8.615677
SYP 13001.78415
SZL 18.031146
THB 32.467499
TJS 9.289763
TMT 3.51
TND 2.92895
TOP 2.342102
TRY 40.68151
TTD 6.673569
TWD 29.829872
TZS 2520.545956
UAH 41.159484
UGX 3529.614771
UYU 39.558259
UZS 12497.303826
VES 123.49336
VND 26220
VUV 120.586812
WST 2.775482
XAF 565.943661
XAG 0.027038
XAU 0.000298
XCD 2.70255
XCG 1.774557
XDR 0.703852
XOF 565.943661
XPF 102.894612
YER 240.589851
ZAR 18.02738
ZMK 9001.199493
ZMW 22.522756
ZWL 321.999592
  • RBGPF

    0.0000

    74.94

    0%

  • NGG

    1.4300

    71.82

    +1.99%

  • GSK

    0.4100

    37.56

    +1.09%

  • SCS

    -0.1500

    10.18

    -1.47%

  • RELX

    -0.3000

    51.59

    -0.58%

  • BTI

    0.6700

    54.35

    +1.23%

  • RIO

    -0.1200

    59.65

    -0.2%

  • CMSD

    0.0800

    23.35

    +0.34%

  • AZN

    0.8600

    73.95

    +1.16%

  • SCU

    0.0000

    12.72

    0%

  • RYCEF

    0.0100

    14.19

    +0.07%

  • CMSC

    0.0200

    22.87

    +0.09%

  • BCC

    -0.4600

    83.35

    -0.55%

  • JRI

    -0.0300

    13.1

    -0.23%

  • VOD

    0.1500

    10.96

    +1.37%

  • BCE

    0.2400

    23.57

    +1.02%

  • BP

    -0.4000

    31.75

    -1.26%

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.

D.Pan--ThChM