This report analyzes diabetes medicine pricing, spending, and patient affordability, addressing common misconceptions around rising costs. It shows that while list prices have increased, manufacturer net prices have declined due to rebates and discounts. Most patients experience stable or declining out-of-pocket costs, though a minority face significant affordability challenges. Differences in insurance design, benefit structures, and timing of cost exposure explain variation in patient burden. The report stresses that policy solutions should target patients facing the highest costs rather than broad pricing controls, as diabetes spending growth is driven more by patient volume than price.

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