Lija Greenseid, of St. Paul, Mn, has a 13 year-old daughter who has Type 1 diabetes. The cost of her life-saving insulin supplies in St. Paul is $12,400.
Lija drives four hours north into Canada to buy the same insulin supplies; the Canadian price is $1265. (Source:).
Is this profit or is this theft? It’s pretty obvious to me that this is outright theft.
First, is the Canadian insulin being sold at a loss? Not a chance in hell. No drug company would be able to operate at a loss for very long. Also, the United States is the only place in the world where this drug is being sold at such a astronomical price.
How does Big Pharma get away with this? Herds of stampeding lobbyists have bought off Congress and the Government so to keep drug prices high in the United States. These lobbyists even managed to force Medicare to refrain from even negotiating a more favorable price for essential drugs. Congressperson Alexandria Ocasio-Cortez noted at a recent hearing that one insulin drug was being manufactured for $3.00 and sold for $300.
People are now dying because of this. What happens if you can’t make it to Canada? What happens if you’re unemployed or just barely making by on a meager salary?
This is immoral on so many grounds. First, it is theft. The average profit for American corporations is 7.9% this year. A drug company selling a $3 dose of insulin for $300 is making a 99% profit. It’s not a fair profit, rather it’s an outright theft.
Second, it’s exploitation of the vulnerable. You just know that the Pharma executives must have laughed when one of them said “their lives depend on this stuff, we can charge whatever we like; what are they gonna do?”
Capitalism is not in our Constitution. Somehow we find ourselves now stuck with it. It’s a financial system consisting of a zero-sum game that gets worse every year. Now people are dying from it. I keep remembering that jolting line from Titanic movie. Rose says: “Cal, half the people on this ship are going to die!” Cal replies: “Not the better half, I’m sure.”
The problem is, here in America, that even the lesser half can buy guns. It would behoove us to fix these things now before all this descends into violence.