Eli Lilly announces it will lower the price of insulin by 70%. Thanks Joe!

Author: IwantRooseveltagain

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#1
IwantRooseveltagain
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Eli Lilly Chief Executive David Ricks acknowledged the Inflation Reduction Act served as a “trigger for us” to lower prices.

American Airlines announced they were eliminating “family seating fees” after the President called for it in his State of the Union speech. Joe did that!

Also, thanks to a subsidy in the bipartisan infrastructure legislation, low income families can access broadband internet connections for free. Thanks Joe!
#2
Best.Korea
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Well, finally they remembered that they can negotiate the prices.
I am actually tired of governments being stupid and letting private companies set prices as they please.

That being said, Biden might wanna negotiate other prices too. Insulin okay, but I dont use insulin.
#3
TWS1405_2
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Trump already that. Joe reversed it. Like he did so many things good that Trump did. Now nearly three years in he is doing what was already done and wants to claim credit; or at least sheeple line you want to ASSume credit for him, is ridiculous. 
#4
Greyparrot
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@TWS1405_2
Imagine an FDR fanboy celebrating corporate welfare...
#5
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Thanks Joe. Party of the lobbies. 

Party of the rich.
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#6
IwantRooseveltagain
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@TWS1405_2
Here you go genius, the details matter. Stop watching media for stupid people. It just makes you more stupid.

“On May 26, the Centers for Medicare and Medicaid Services announced that participating enhanced Part D prescription drug plans will allow beneficiaries to access insulin for a maximum copay of $35 for one month’s supply. Notice the words “participating” and “enhanced.” This means that only those patients who elect (and pay for) enhanced coverage will be able to take advantage of the $35 price cap – and only if their drug plans participate. Millions of seniors whose plans do not include this provision will continue to pay an average of over $1,100 in annual out of pocket insulin costs”


#7
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@IwantRooseveltagain
I don’t watch media, clown. But clearly you do. 
#8
Greyparrot
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@TWS1405_2
Trump's plan didn't pass because it didn't include massive tax payer subsidies into Medicare to subsidize big pharma.
#9
TheUnderdog
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@Greyparrot
How does lower insulin prices equal corporate welfare?  I think there should be price ceilings on drugs and surguries to make them more affordable for the working man.
#10
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@TheUnderdog
Read the Inflation Reduction Act. It provides subsidies for the drug which goes directly into the pockets of big pharma.

Huge fucking cash giveaway.

Putting a price cap on a drug with no subsidy means massive shortages, so there's no free lunch here.
#11
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@Greyparrot
Putting a price cap on a drug with no subsidy means massive shortages, so there's no free lunch here.
I disagree because the demand for medical drugs is almost perfectly inelastic.  Insulin could cost $100 a unit, and people are still going to buy it if they need it.
#12
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@TheUnderdog
You are assuming a competitive market. I assure you, the 3 insulin monopolies pay the government enormous  sums of money to artificially keep the price high by eliminating competition through pay to play regulations. You cap the prices without subsidies, those companies go on "strike"

Those insulin subsidies is just the government paying the bill with our tax dollars.

Corporate welfare has never been so blatant nor so crony.
#13
TheUnderdog
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@Greyparrot
You are assuming a competitive market. I assure you, the 3 insulin monopolies pay the government enormous  sums of money to artificially keep the price high by eliminating competition through pay to play regulations. You cap the prices without subsidies, those companies go on "strike"
I think there is a competitive market for insulin.  Mark Cuban started a company where he sells drugs for cheap.
#14
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@TheUnderdog
Just letting you know, the uniparty of both Dems and Repubs both favor the existing pay to play system that keeps competition  down, prices up, and the profits get siphoned off into their campaign warchests.

If you vote for either party, nothing is going to change.
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#15
IwantRooseveltagain
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@TWS1405_2
Trump already that. Joe reversed it. 
So where did you get your misinformation?

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#16
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@TheUnderdog
Read the Inflation Reduction Act. It provides subsidies for the drug which goes directly into the pockets of big pharma.
Gay Parrot is lying and he hasn’t read the Inflation Reduction Act

#17
TheUnderdog
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@IwantRooseveltagain
Gay Parrot
I’m LGBT and I’m offended at your homophobia!!!  Jk; getting offended is for liberals.

and he hasn’t read the Inflation Reduction Act
Have you read that bill?  I haven’t, so I don’t have an opinion on it.
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#18
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@TheUnderdog
Have you read that bill?  I haven’t, so I don’t have an opinion on it.
Like most normal people, I haven’t read any bills. But I rely on credible and credentialed sources to summarize bills for me.

#19
TheUnderdog
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@IwantRooseveltagain
What source(s) did you use?
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#20
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@TheUnderdog
What source(s) did you use?
To understand what? Eli Lilly lowering insulin prices? My list of credible sources?
The NewsHour
The Washington Post
The NY Times
The Boston Globe
The LA Times
Wikipedia 
#21
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@IwantRooseveltagain
I meant links.
#22
Greyparrot
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Like most normal people, I haven’t read any bills...

And this is why our modern legislation is thousands of pages long filled with cronyism.
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#23
IwantRooseveltagain
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And this is why our modern legislation is thousands of pages long filled with cronyism.
Are you suggesting ordinary citizens or members of Congress back in the “good ole days” used to read the bills? What proof do you have of that?
#24
TheUnderdog
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@IwantRooseveltagain
I don’t think citizens ever read the bills, and our politicians are so afraid of criticism that they make bills thousands of pages long.

Operation get out of debt (something I want to pass) is much shorter.  I welcome criticism, but nobody is bothered to criticize it and people tend to think it’s good, so I think it has the potential to pass.