ST. PAUL, MN–Minnesota is suing three of the world’s largest insulin manufacturers for raising the price of the life saving drug.
Attorney General, Lori Swanson is suing for what she calls “deceptive, misleading, and misrepresentative list prices.”
Drug manufacturers typically must negotiate with pharmacy benefit managers, or “pbms”-those pbms are middlemen in the pharmaceutical supply chain.
Swanson alleges to make money, manufacturers set “phony” list prices that are artificially high – so they can offer greater rebates to pbms and still maintain their profits.
Recently, a mother from New York lost her son due to what she says- the high demanding cost of insulin a month to keep him alive.