PA Congressman introduces generic insulin bill
WASHINGTON, D.C. (WENY) – Pennsylvania Congressman Mike Kelly has introduced a bill he says will pave the way for generic insulin in the United States.
The bill is called the “Market Access for Generic Insulin Competition” – or MAGIC – Act. The act would allow generic brands of insulin to be marketed to patients.
Historically, generic drugs are cheaper than their name brand counterparts and Kelly says this bill would reduce out of pocket costs for diabetic patients who need insulin to survive.
Currently, there is no generic version of insulin and according to a recent study from the Health Care Cost Institute, Americans with Type 1 Diabetes spend an average of $5,700 a year on insulin. Additionally, a 2018 survey from the American Diabetes Association found nearly one in four Type 1 diabetics ration insulin because of surging prices.