Is the price of insulin and example of a free market or of collusion between between big Pharma companies?
A vial of insulin costs about $1.50 to manufacture. It is sold over $400 by profit driven capitalists at Eli-Lilly, Novo-Nordisk, and Sanofi-Aventis who together control over 90% of the market and – in true capitalist’s fashion – have colluded on price hikes keeping in step with each other and creating an effective monopoly.
Seeing that a diabetic does a horrible death very quickly from DKA, how can a diabetic wait out the inevitable end of this effective monopoly?
Article from r/Libertarian: For a Free Society