The U.S. Insulin Crisis—Rationing a Lifesaving Medication Discovered in the 1920s

The authors trace the history of insulin pricing from its discovery in 1922 to the present crisis in which the price of insulin has risen dramatically, leading Americans to ration a lifesaving medication. They attribute the crisis to an oligopolistic market dominated by three manufacturers and a US system that allows unchecked drug pricing, and propose policy solutions including importation and price transparency.