Quantcast

Texas AG investigates alleged health care industry schemes to inflate insulin prices

SOUTHEAST TEXAS RECORD

Sunday, November 24, 2024

Texas AG investigates alleged health care industry schemes to inflate insulin prices

Attorneys & Judges
Paxton

Paxton

AUSTIN – Attorney General Ken Paxton has announced an investigation into potential violations of law related to the pricing of the life-saving drug Insulin. 

According to a press release, insulin prices are exponentially higher in the U.S. 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 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.   

Paxton issued Civil Investigative Demands 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, the press release states. 

“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,” said Paxton. “I am committed to holding all responsible parties accountable if their actions leading to outrageously elevated insulin prices violated the law.”  

More News