Mississippi Attorney General Sues Both Pharma and PBMs as Insulin Prices Soar
June 16, 2021
Mississippi has accused insulin manufacturers and pharmacy benefit managers (PBMs) of working together to maintain insulin prices unmanageably high. Mississippi Attorney General Lynn Fitch criticized pharma regarding these policies, noting that vulnerable patient populations are being exploited. Increases in the price of insulin have been attacked in recent years by advocacy groups for patients with type I diabetes.
“The lawsuit alleged that the manufacturers benefited from a scheme in which prices were “artificially” inflated to win placement on formularies, the list of medicines for which insurance is provided. And pharmacy benefit managers profited by receiving “secret” rebates from the manufacturers and also through their own mail-order pharmacy sales.” Read more here.
(Source: Ed Silverman, Pharmalot – STAT News, 6/14/21)