TED-Ed: 3 reasons why medications are so expensive in the US | Kiah Williams

The video discusses the history and pricing of insulin, highlighting Frederick Banting's decision to transfer his patent rights for $1.00, emphasizing that insulin should belong to the world. It explores the US drug supply chain, explaining the high costs of insulin due to research, development, and patent practices. The video details the distribution channels and the role of pharmacy benefit managers (PBMS) in the US, which often limit patient choices. It highlights the lack of transparency in financial transactions and compares US practices with other countries, suggesting increased regulation and funding to lower drug prices and encourage innovation. Recent price reductions by insulin manufacturers are noted, but systemic changes are needed for broader affordability.

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