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When inventor Frederick Banting discovered insulin in 1923, he refused to put his name on the patent. He felt it was unethical for a doctor to profit off a discovery that would save lives. Banting’s co-inventors, James Collip and Charles Best, sold the insulin patent to the University of Toronto for a mere $1. They also wanted everyone who needed their medication to be able to afford it.

Today Banting and colleagues would be spinning in their graves: Their drug, which 30 million American diabetics rely on, has become the latest poster child for pharmaceutical price gouging.

On May 2, the pharmaceutical giant Eli Lilly raised the prices of its insulin medications, Humalog and Humulin, by 7.8 percent, according to newly obtained records from CNBC’s Meg Tirrell. And Lilly is not acting alone: Sanofi and Novo Nordisk, the only two other companies that manufacture insulin in the US, have been jacking up insulin prices recently too.

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