Congressman Kelly Introduces Bill to Make Generic Insulin a Reality
To battle out of control insulin costs, Congressman Mike Kelly on Tuesday introduced a bill he is calling a MAGIC Act to make generic insulin a reality.
Rep. Kelly, who is a diabetic himself, said the bill offers a game changing solution to insulin pricing.
The average annual cost of insulin for a Type 1 diabetic has increased 600 percent over the last two decades, according to Kelly.
MAGIC stands for Market Access for Generic Insulin Competition.
If enacted, the bill is said to remove regulatory barriers at the FDA that stand in the way of a competitive market for insulin and pave the way for the approval and production of true, affordable generic insulin.
"Millions of Americans are struggling to afford a drug they depend on to live," said Kelly. "Many are dangerously resorting to rationing their prescriptions."