‘It is legal extortion’: Diabetics pay steep price for insulin as rebates drive up costs

In 1921, Canadian scientist Frederick Banting discovered insulin and later sold the patent to the University of Toronto for $1, declaring that the lifesaving drug did not belong to him. “It belongs to the world.” One hundred years later, the 8.4 million diabetics in the USA who rely on insulin pay an exorbitant amount of money for a drug that supposedly belongs to them.

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2021-12-13 22:36:11