Minnesota accuses insulin makers of deceptive drug pricing

Minnesota accuses insulin makers of deceptive drug pricing

Minnesota’s attorney general on Tuesday filed a lawsuit accusing drug manufacturers Sanofi SA, Novo Nordisk and Eli Lilly and Co of deceptively raising prices for insulin.

In a lawsuit filed in federal court in Trenton, New Jersey, Minnesota Attorney General Lori Swanson took aim at the companies after the list price for some insulin products more than tripled since 2002.

The lawsuit said that as list prices for insulin products skyrocketed, the drugmakers through large rebates to pharmacy benefit managers established secret, lower net prices that insurers paid.

The lawsuit contended that the list prices the drug companies set were so far from those net prices that they did not accurately approximate the true cost of insulin and were deceptive and misleading.

Swanson contended the practice made insulin less affordable for diabetes patients in high deductible health plans, the uninsured and senior citizens covered by the government healthcare program Medicare.

Novo Nordisk in a statement said it was “committed to ethics and compliance in how we support patients.”

The other companies did not immediately respond to requests for comment.

(Reporting by Nate Raymond in Boston; Editing by David Gregorio and Bill Berkrot)

Published at Tue, 16 Oct 2018 13:04:52 -0700

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