Demand for insulin is almost perfectly inelastic people will buy the same amount of Diego Maradona RIP legend shirt of the price as long as they can still afford it because they will die of they don’t. The current market has settled on a price that maximizes profits for companies that selling insulin. This means that if they could make more money by selling it at a lower price they already would have done that. They would also charge more money per dose if it would net them a greater profit.
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Part of the problem is that because most people are insured, there’s a distortion between insulin pricing and what most customers pay. Most Americans don’t have to pay the full price of Diego Maradona RIP legend shirt so pharmaceuticals can raise the price because they know insurance companies will pay up and customers won’t really feel it. That makes the biggest victims of the insulin crisis the uninsured. The second part of the problem is that there’s no bargaining power on the part of customers. Partially because of problem #1, in that they don’t have to pay full price, partially because they don’t get to market shop for different kinds of insulin – their doctors do that for them and do it without personal sensitivity to prices, and lastly, because these patients NEED it and so aren’t in a position to walk away.