Attorney general sued insulin makers, alleging price gouging
ST. PAUL, Minn. (AP) — Minnesota’s attorney general is going after three drug manufacturers who make insulin for people with diabetes, claiming the companies are gouging diabetics with steep price increases.
Attorney General Lori Swanson says drug makers have tripled the list prices of various insulin medications since 2002, even though the medicine hasn’t changed fundamentally.
Swanson says many people can’t afford the price hikes, but they can’t afford to stop taking the medication either. The attorney general’s inquiry began last year with subpoenas for pricing data and records from three insulin companies — Sanofi-Aventis, Novo Nordisk and Eli Lilly.
Swanson says the companies have engaged in a scheme to raise their prices so they can offer the best rebates to pharmacy benefit managers.