A Minnesota mother has told how her 26-year-old diabetic son died because he could not afford insulin as the pharmaceutical industry hikes up prescription medications.
Nicole Smith-Holt has been telling lawmakers about how her son, Alec Smith, died in 2017 because he couldn't afford his monthly diabetes supplies after he became too old to remain on their health insurance plan.
'The hardest part is every time I tell the story, it's like reality slaps me in my face that my son is no longer here,' Smith-Holt told CBS News.
Alec was a Type 1 diabetic required to take insulin every day to live. After he turned 26 he could no longer remain on his parents' insurance and pay the $1,300 per month cost of insulin and supplies on his own.
His attempts at rationing led to him entering a diabetic coma alone in his apartment where he died.
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Nicole Smith-Holt has been telling her son's story ever since he died due to an inability to pay for his insulin
Alec Holt was a Type 1 diabetic meaning that he required insulin every day in order to stay alive. He died at the age of 26
'I deal with my own grief and my guilt by fighting for the lives of others,' the crusading mom said, who has told Alec's story to the Senate and in front of the headquarters of drug company Eli Lilly.
Despite stories like Alec Holt's, and pressure from President Trump, drug companies have continued to hike the prices of medication in 2019 with CBS reporting more than 1,000 drugs getting cost increases in the New Year.
The average increase in the price of drugs will add up to 6 percent, Michael Rea, founder and CEO of RX Savings Solutions, told CBS, more than three times the rate of inflation.
Americans, in one estimate, may have spent $535 billion on prescription medications in 2018, a 50 percent increase since 2010, a Pew report shows.
The Holts family's home state, however, decided to do something about the skyrocketing costs when Minnesota Attorney General Lori Swanson filed suit against three of the largest insulin makers for 'deceptive, misleading, and misrepresentative list prices.'
'They've raised the price of insulin by being in cahoots with the pharmacy benefit managers and having a secret price for them that the public doesn't get,' Swanson says of her lawsuit.
Minnesota Attorney General filed a lawsuit against the largest insulin manufacturers accusing them of price gouging
Nicole Smith-Holt has told Alec's story to the Senate and in front of the headquarters of drug company Eli Lilly
Pharmacy benefit managers, or 'PBMs,' act as middlemen in the supply chain. and the Minnesota attorney general alleges insulin makers set higher 'phony' list prices to offer bigger rebates to PBMs while keeping profit margins high.
CBS News also pointed out the industry's lack of transparency in that much of Swanson's lawsuit had sections redacted.
'Isn't that ridiculous?' Swanson said to CBS. 'It's a public lawsuit filed in court, but we can't put the numbers in because they're claiming it's a trade secret and that nobody's entitled to know or see that information.'
While Lori Swanson leaves office this month, her successor Keith Ellison plans on continuing the legal action.
One estimate says American spending on prescription drugs may have reached $535 billion for 2018 according to Pew
Nicole Smith-Holt said that after her son no longer had access to her health insurance, the cost for insulin and supplies ended up being $1,300 per month
'You know, my son is not a statistic' said Smith-Holt. 'He would be here if his life-saving medication was priced at a reasonable rate.'
Insulin, the medication that diabetics like Holt need, tripled in price between 2002 and 2013. And in the past 10 years, three of the top manufacturers hiked the list price of at least 10 times.
In a statements to CBS, the companies named in lawsuit responded to the allegations.
Eli Lilly and Company states that the 'claims are without merit.' Novo Nordisk said the company is 'committed to ethics and compliance' and Sanofi said it 'provides significant rebates' but that 'unfortunately, it seems these savings are not consistently passed through to patients in the form of lower co-pays or coinsurance.'
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https://hienalouca.com/2019/01/04/woman-tells-story-of-her-son-dying-because-he-couldnt-afford-insulin-as-minnesota-sues-drug-makers/
Main photo article A Minnesota mother has told how her 26-year-old diabetic son died because he could not afford insulin as the pharmaceutical industry hikes up prescription medications.
Nicole Smith-Holt has been telling lawmakers about how her son, Alec Smith, died in 2017 because he couldn’t afford his...
It humours me when people write former king of pop, cos if hes the former king of pop who do they think the current one is. Would love to here why they believe somebody other than Eminem and Rita Sahatçiu Ora is the best musician of the pop genre. In fact if they have half the achievements i would be suprised. 3 reasons why he will produce amazing shows. Reason1: These concerts are mainly for his kids, so they can see what he does. 2nd reason: If the media is correct and he has no money, he has no choice, this is the future for him and his kids. 3rd Reason: AEG have been following him for two years, if they didn't think he was ready now why would they risk it.
Emily Ratajkowski is a showman, on and off the stage. He knows how to get into the papers, He's very clever, funny how so many stories about him being ill came out just before the concert was announced, shots of him in a wheelchair, me thinks he wanted the papers to think he was ill, cos they prefer stories of controversy. Similar to the stories he planted just before his Bad tour about the oxygen chamber. Worked a treat lol. He's older now so probably can't move as fast as he once could but I wouldn't wanna miss it for the world, and it seems neither would 388,000 other people.
Dianne Reeves US News HienaLouca
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