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Insulin is a critical hormone used in the treatment for diabetes—a condition that affects millions of Latinos. According to a recent study, the cost for this vital medication has more than doubled between 2002 and 2013, Newsmax reports.
“The large increase in costs can largely be explained (by) much greater use of newer types of insulin known as analog insulins,” said senior author Philip Clarke of the University of Melbourne in Australia. “While these drugs can be better for some patients, they are much more costly than the human insulin they replaced.”
According to researchers of the study, the annual spending on insulin per patient “increased from $231.48 to $736.09 over the study period.”
“Although the newer, more expensive insulin analogs appear to have incremental benefits compared to older, less expensive insulin preparations, their premium price requires us to ask whether they are really necessary, and if so, for whom?” said study co-author Dr. William Herman.
Unfortunately, experts believe the price of insulin is unlikely to drop due to heavy regulations and the cost of bringing it to the market.