Michigan Attorney General Seeks Investigation Regarding Eli Lilly’s Exorbitant Insulin Prices

The Michigan Attorney General has asked the courts to approve a formal investigation into Eli Lilly’s excessive insulin prices. The state points out that the prices are having an inordinate impact on consumers in their state, with the average out-of-pocket price approaching $100. While Eli Lilly’s spokeswoman says that the average out-of-pocket price for their insulin has dropped 27% over the past 4 years, the AG indicates that the state is hoping to shift towards other manufacturers.

According to Ed Silverman of STAT, “More than 29 million Americans, or 9.3% of the U.S. population, have some form of diabetes, and about 7.4 million use insulin. However, a 2019 study found that among adults who were prescribed a diabetes medication in the previous 12 months, 13% skipped dosages, took fewer dosages, or delayed filling a prescription in order to save money. And 24% asked their doctor for a lower-cost alternative.”

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(Source: STAT News, January 26^th, 2022)