Austin—Attorney General Ken Paxton announced an investigation into potential violations of law related to the pricing of the life-saving drug Insulin.
Insulin prices are exponentially higher in the United States than in other developed countries. In the last two decades, the retail prices for some insulin products have skyrocketed, in some cases increasing by 200 percent to 1000 percent, for a drug that is over 100 years old. The excessive prices have forced millions of Americans to ration their medication or even go without it entirely.
Attorney General Paxton issued Civil Investigative Demands (CIDs) to key players in the insulin supply chain (including drug manufacturers, wholesalers, and pharmacy benefit managers) demanding information about these dramatic price increases. CIDs were issued to drug manufacturers Eli Lilly, Novo Nordisk, and Sanofi, and pharmacy benefit managers CVS Caremark, Express Scripts, and OptumRx.
“Texans today are made to choose between buying groceries to feed their families and paying sky-high prices for a life-saving drug that’s been estimated to cost around two dollars to make,” Paxton said. “I am committed to holding all responsible parties accountable if their actions leading to outrageously elevated insulin prices violated the law.”
SOURCE Office of Texas Attorney General