US EditionOregon Sues Drug Companies for $1B, Alleging Scheme to Inflate Insulin Prices over Decades
Oregon accuses companies of colluding to inflate insulin prices and seeks $900 million for violations of the state’s Unlawful Trade Practices Act.
- On Wednesday, Oregon Attorney General Dan Rayfield sued three insulin manufacturers and major PBMs in Multnomah County seeking $900 million and to bar overcharging.
- Manufacturers and PBMs allegedly coordinated by raising list prices despite falling production costs, then paid rebates to PBMs for favorable placement on formularies while steering patients from cheaper options.
- A RAND Corp. found the 2020 average manufacturer list price was nearly $99 per unit, while prices rose from about $20 to between $300 and $700 despite production costs under $20, affecting about 38 million Americans with diabetes and more than 370,000 Oregonians, according to Oregon Attorney General Dan Rayfield.
- Rayfield said he seeks a court order to stop the alleged scheme and restitution, noting hundreds of related suits have consolidated in U.S. District Court in the District of New Jersey.
- Federal scrutiny includes congressional probes and a Federal Trade Commission lawsuit, while policy moves such as the Inflation Reduction Act and Eli Lilly’s 2023 price cut respond to concerns prompting lawsuits in states including Indiana, California, Arkansas and Mississippi.
13 Articles
13 Articles
Oregon Capital Chronicle
Oregon attorney general sues drug companies over ‘skyrocketing’ insulin prices
Oregon is one of about 20 states that have sued drug makers and pharmacy benefit managers over insulin price-fixing in recent years. (Stock photo illustration via Getty Images)Oregon’s attorney general is suing six of the nation’s largest pharmaceutical companies and pharmacy benefit managers for conspiring to artificially inflate insulin prices and other critical diabetes medications for years. Attorney General Dan Rayfield announced the lawsui…
Oregon sues pharmaceutical companies over insulin prices
Oregon is joining cities, unions, and states across the country that have filed a lawsuit alleging pharmacy benefit mangers and pharmaceutical companies intentionally drove up the price of insulin and diabetes drugs.
Krem2 News
KGW 8Oregon's attorney general files $900M lawsuit accusing insulin manufacturers of price gouging
The lawsuit alleges three manufacturers coordinated with three pharmacy benefit managers in a scheme to inflate insulin prices to make a higher profit.
Oregon Attorney General Hits Big Pharma and PBMs with Mammoth $900M Lawsuit Over Insulin Price Gouging!
Oregon's Attorney General sues insulin manufacturers and PBMs for $900 million, alleging price inflation and collusion, aiming to reduce the financial burden on patients.
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