State of California Files Suit Against Pharma Companies and PBMs Over High Insulin Pricing

The US state of California has filed suit against major pharmacy benefit managers (PBMs) and the biggest manufacturers of insulin over high prices. The state argues that the companies have undue influence over the market as major players and leverage the relative lack of competition to keep prices of the live-saving drug at exorbitant levels despite the cheap cost of production.

According to Emily Kimber, “The California Health and Human Services Agency reported this year that, according to national data, as many as one in four diabetics cannot afford their insulin, forcing them to ration or stop taking insulin altogether. A statement issued by the attorney general’s office adds that those from low-income households and some racial and ethnic groups are disproportionately impacted by the practices.”

To read more, click here.

(Source: PM Live, January 16^th, 2023)