I don’t think that’d be necessary… currently with formularies and insurance and PBM the real competition is in the rebates… which actually translates to competing to drive the list price higher… if they were actually competing for the consumers business to sell a product that a customer was going to pay cash for based on the best value the price would fall quickly and tremendously
We can only dream!
From what little a non pharma exec can possibly understand of the situation— it sounds like the profit margin on insulin really isn’t especially high—- it’s just the middle men driving the list price higher and higher with one hand while paying back larger and larger rebates with the other… hence the non prescription ones like R and NPH are both sold for about $25 / vial are Walmart if you’re paying cash (and theyre mfg’d by either nordisk or lily) but they’re charging about $200/ vial for the exact same vial if your insurance is involved…
For what it’s worth, $25 or $50/month for lots of people is untenable. People on Medicare for disability get scripts without co-pays. That’s a huge difference for folks struggling to make ends meet. When you consider the statistic that about 40% American can’t afford a $400 emergency, adding $50/month suddenly seems like a lot… so making it OTC might not actually help. That said, I completely agree that private insurance companies are the problem, which is why removing them from the healthcare system entirely would likely make insulin much, much cheaper.