The average price of insulin has skyrocketed in recent years, but the reasons for that increase aren’t clear. Numerous parties play a role in the production and delivery of insulin to patients – including manufacturers, wholesalers, insurers, pharmacy benefit managers and pharmacies – and the pricing negotiations that occur between them are often confidential. There is a need for transparency in the insulin supply chain to help consumers, advocates and policymakers understand the factors affecting insulin costs.
Solutions are only as good as the information used to create them, which is why we strongly encourage transparency by all parties involved in establishing the policies and processes that determine how much individuals pay for insulin. This is the first step in creating policies that will reduce skyrocketing costs and keep a steady supply of insulin within reach of all people who need it.