Arkansas' attorney general filed a lawsuit May 11 alleging that drug manufacturers and pharmacy benefit managers conspired to artificially drive up the cost of insulin.
Named in the lawsuit are drug manufacturers Novo Nordisk, Sanofi and Eli Lilly, along with PBMs Express Scripts, Caremark and Optum. Attorney General Jennifer Rutledge is accusing the companies of violating the state's deceptive trade practices act, unjust enrichment and civil conspiracy, according to a May 11 news release.
The cost of insulin was $14 in the 1980s, but now ranges between $300 and $700, according to the news release. Despite the price, the drug costs less than $2 to produce.
Ms. Rutledge alleges that the companies worked together in a pricing scheme to unfairly and deceptively drive up the cost of insulin, boosting their revenue while making the drug unaffordable to many diabetics in the state.