U.S. Senators Dick Durbin (D-IL), Kevin Cramer (R-ND), and Tina Smith (D-MN) today introduced the Affordable Insulin Approvals Now Act, a bipartisan bill to speed up approvals of lower-cost, generic, and “follow-on” insulin products in order to help lower costs of the life-saving drug. Approximately 7.5 million Americans with diabetes rely on insulin every day to survive, yet the drug has experienced a price increase of more than 600 percent over the past two decades in the United States. Today’s legislation would lower the price of insulin by promoting competition and bringing lower-cost generic products to market sooner—specifically by requiring FDA to continue reviewing generic insulin applications even after the agency’s currently planned March 2020 cut-off date.
“America’s insulin pricing scandal is a disgrace. Basic insulin was first discovered nearly a century ago, yet Big Pharma’s price gouging is driving families and children to extraordinarily dangerous lengths – like rationing supplies – in order to afford a medication they need to survive. If we can create a faster path for FDA approval of generic insulin, we can finally help to lower costs and tell Big Pharma enough is enough,” Durbin said.
“More generic insulin in the market means lower costs for those in need. Our bill encourages competition and free market solutions to the rising cost of this life-saving drug,” said Cramer.
“People with diabetes in Minnesota and across the country who need insulin to survive should not be forced into economic distress or dangerous rationing practices to afford Big Pharma's skyrocketing prices,” said Smith. “By speeding up the FDA approval process to bring low-cost insulin products to market, we can make this life-sustaining medication more accessible and affordable for families.”