or decades, conservatives have defended the role of private enterprise in delivering life-saving medical innovation. American pharmaceutical companies helped pioneer treatments that extended lifespans, reduced suffering, and made previously fatal diseases manageable. We understood that profits were part of the bargain – the incentive that drives discovery and investment.
But there is a difference between fair profit and exploitation. And nowhere is that distinction clearer today than in the price of insulin.
Insulin is not a luxury good. It is not an optional supplement. For millions of Americans living with diabetes, it is literally the difference between life and death. The idea that such a foundational medicine could become financially out of reach for ordinary families should alarm anyone who believes that markets should be grounded in moral responsibility.
The history of insulin makes today’s situation even more troubling. When Canadian scientist Frederick Banting helped develop insulin in the early 1920s, he famously sold the patent for just one dollar, believing the discovery “belonged to the world.” His goal was simple: ensure that a life-saving therapy would be widely available to those who needed it. That spirit of public-minded innovation helped define the pharmaceutical industry at its best.
A century later, the reality looks very different.
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