Study: Insulin Prices Have Almost Doubled Over Five-Year Period

The cost of treating Type 1 diabetes in the United States with necessary insulin injections almost doubled over a five-year period, NBC News reports. A recent Health Care Cost Institute study found that Type 1 diabetics were paying annual insulin costs of $5,705 on average in 2016, compared to an average $2,864 yearly insulin expense in 2012. Broken down daily, the cost ended up being about $15 in 2016. In 2012, users spent only $7.80 per day on average in 2012. The study attributed the increase in spending to the higher cost of the medicine and a shift towards more pricey insulin products. “Use is pretty flat, and the price changes are occurring in both older and newer products. That surprised me,” report co-author Jeannie Fuglesten Biniek said. “The exact same products are costing double.” About 1.2 million people in the U.S. have Type 1 diabetes, a condition that causes the pancreas to stop producing insulin. Type 2 diabetes, which is more common among Americans, can be treated through other medications but those affected might have to turn to insulin injections if their condition progresses far enough.