US House Passes Legislation Capping Insulin Price At $35 Per Month

WASHINGTON (UrduPoint News / Sputnik - 01st April, 2022) The US House of Representatives passed legislation to cap the price of prescribed� insulin at $35 per month for Medicare beneficiaries that was a policy initially included in the Democrats Build Back Better legislation.

The House passed on Thursday the Affordable Insulin Now Act in a vote of 232-193 that fell mostly along partisan lines.

"House Democrats have long led the charge to lower the cost of prescription drugs.� So it's with great pride that the Democratic House today will advance one of the pillars of this vision: capping the cost of insulin at $35 a month," Speaker Nancy Pelosi said during her floor speech on the bill.

Americans pay more than ten times for insulin compared to what other consumers around the world pay on average, Pelosi noted.�

The price of insulin in the United States increased by 54% from 2014 to 2019 while pharmaceutical companies made record profits, producing insulin at about $10 a vial and charging up to 30 times more, Pelosi added.

The cap on insulin prices was initially included in the Biden administration's Build Back Better legislation, but was taken out and put into a separate bill.