Bill would let patients buy cheaper insulin from other countries

A bill introduced by Rep. Peter WelchPeter Francis WelchProviding more information on the prescription drug supply chain will help lower costs for all Impeachment hearing breaks into laughter after Democrat contrasts it to Hallmark movie Diplomat ties Trump closer to Ukraine furor MORE (D-Vt.) on Wednesday would let patients import cheaper insulin from Canada and other countries. 

“Prices for insulin have gone through the roof and are hammering diabetes patients who cannot live without this life-saving medicine yet cannot afford to pay for it," Welch said in a statement. 

Insulin, which is used to treat diabetes, can cost diabetics thousands of dollar a year in the U.S. because of the lack of generic competition, but it's often cheaper in other countries.

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The bill would legalize importation of insulin from Canada by patients, pharmacists and wholesalers for two years before expanding to other countries with safety standards similar to the U.S. 

Welch's proposal would require that the Food and Drug Administration certify and inspect all foreign exporters of insulin, and patients would still need prescriptions to buy it. 

A similar bill introduced last month by Rep. Elijah CummingsElijah Eugene CummingsImpeachment can't wait Adam Schiff's star rises with impeachment hearings Tucker Carlson calls Trump 'full-blown BS artist' in segment defending him from media coverage MORE (D-Md.) and Sen. Bernie SandersBernie SandersDemocratic strategist: 'Medicare for All' exposes generational gap within party Yang expands campaign with senior hires for digital operations Biden: All-white debate not representative of party, but 'you can't dictate' nominee MORE (I-Vt.) is more broad and would allow the importation of qualifying prescription drugs, excluding controlled substances. Welch co-sponsored that measure.

The bills comes as Congress investigates the escalating costs of prescription drugs in the U.S. 

The Senate Finance Committee will hear from seven drugmakers next week, including one insulin manufacturer, about product pricing.

The Energy and Commerce Committee launched an investigation last month into the three main insulin manufacturers in the U.S. over rising costs.