Comparing Insulin Prices in the United States to Other Countries
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U.S. Pays 8x What Other Countries Would for Insulin | Web version
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Congressional alert
October 14, 2020
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Bernard Chantal/Getty Images
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A new RAND study shows insulin prices are more than eight times higher in the United States than in other high-income Organisation for Economic Co-operation and Development (OECD) countries. U.S. prices were higher than each of OECD 32 comparison countries individually, ranging from 3.8 times higher than those in Chile to 27.7 times higher than those in Turkey. U.S. prices were 6.3 times higher than those in Canada and 8.9 times higher than those in the United Kingdom.
The study compared manufacturer prices using a price index approach which holds the U.S. mix of insulins constant and then compares prices for the U.S. market basket as if it were bought in different countries. While the final, net prices paid for insulins in the United States are likely lower than manufacturer prices due to rebates and other discounts, net prices are not available for analysis. But even if such rebates and discounts drive down U.S. prices by as much as 50%, U.S. prices remain four times higher than in other high-income nations.
Read the report »
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For questions or to discuss this research, please contact Jared Perkins. |
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RAND Congressional Resources Staff
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