Government Price Controls Mean Patients Pay the Price

When it comes to reducing the price of prescription drugs, particularly insulin, the past several months have provided a study in contrasts. Even as the private market comes up with innovative solutions to lower prices for consumers, the Left remains fixated on a one-size-fits-all, government-dominated system of price controls.
 
The latest example of this effort comes in the form of legislation from Sens. Jeanne Shaheen (D-NH) and Susan Collins (R-ME), which Majority Leader Chuck Schumer (D-NY) said he will bring to the Senate floor in the coming weeks. The bill would create a new regime whereby manufacturers who “voluntarily” agree to cap the price of insulin would receive preferential advantages. Specifically, insurers and employers could not demand rebates from drug companies for these “certified” insulin products, and could not charge patients more than $35 a month in co-payments.