Why Do Insulin Prices Keep Rising?

The video discusses the high cost of insulin in the United States, despite its discovery being intended for widespread, affordable access. It covers the history of insulin, including its discovery by Frederick Banting and the ethical decision not to profit from it. The video explains the current market dynamics, where Americans pay significantly more for insulin due to market practices and lack of price controls. It also highlights the improvements in insulin formulations over the years and the challenges in accessing affordable insulin, including the absence of true generic options. The video concludes with a mention of congressional hearings addressing these issues.

What was the ethical stance of Frederick Banting regarding the insulin patent?

• He wanted to profit from it.

• He refused to put his name on the patent.

• He sold it for a high price.

• He patented it for personal gain.

By 2016, how much did insulin cost per month in the United States?

• $450

• $600

• $200

• $300

What percentage of the global insulin purchasing market does the United States hold?

• 15%

• 10%

• 50%

• 25%

What technological advancement improved insulin production in the late 1970s?

• Chemical synthesis

• Recombinant technology using E. Coli

• Synthetic insulin creation

• Natural extraction methods

Why are there no true generic options for insulin in the U.S.?

• High production costs

• Incremental innovations and patent issues

• Government restrictions

• Lack of demand