Cost Of Insulin Rising In Recent Years

By Lynne Adkins

PHILADELPHIA (CBS) -- Diabetics are feeling the squeeze when paying the cost of insulin.

The cost of insulin has been rising in recent years. Dr. Andrew Peterson, Dean of Mayes College of Healthcare Business and Policy at the University of the Sciences says blame it on insurance companies passing on costs and on newer insulin drugs.

"These new insulins are great because it does mean there's better blood glucose control, but then increase in innovation costs money, that's where they're getting more money, profits to reinvest back into research."

He says costs should come down when patents expire and the competition increases, in the meantime those in need can ask for help as most pharmaceutical companies have low or no cost drug programs.