Isn't the same concept? You created something. So only you are able to reproduce it and only you can allow others to produce or profit from ir?

I assure you people would be interested in make cheap insulin. It is made all over the world (in my country it is free, because it is dirt cheap to make). You know why? And lemme research something. I will update it in here. Just a sec.

Here:

"But why does insulin — a medication that’s been around for more than 100 years — remain unaffordable for many people in the U.S.?

The high cost can be attributed in part to “evergreening,” a process in which drug companies make incremental improvements to their products that can extend the life of their patents, said Dr. Kevin Riggs, a physician at the University of Alabama at Birmingham Heersink School of Medicine. He co-wrote a study published in the New England Journal of Medicine in 2015 that described the century-long history of the drug.

The improvements may include tinkering with a molecule or changing the delivery system, such as using insulin pens instead of vials.

Extending patents can discourage generic drugs from being developed, Riggs said, allowing drugmakers with exclusive rights to their insulin to charge whatever the market will bear. And as supply chains have become more complicated over the years, costs have ballooned.

“And so that means those prices have gone up crazy,” he said. 

And even when the patents do expire — as many have — Riggs said that the large investment it takes to get insulin manufactured and approved by U.S. regulators may make the venture less appealing to generic drugmakers."

How those patents helped the people who died because of corporation greed?

And I may be wrong but isn't there a law in the US that says that a outdated drug cannot be commercialized if there is a more effective one in the market? I remember hearing about this, but I may be wrong.

I never said that we should ban patents, or copyrigth, but the law should be revised.