Insulin makers face class-action lawsuit over price collusion

A class-action lawsuit filed in the U.S. District Court of Massachusetts alleges that insulin makers Sanofi (NYSE:SNY), Novo Nordisk (NYSE:NVO) and Eli Lilly (NYSE:LLY) conspired to raise their list prices to get access to pharmacy benefit managers’ preferred lists, instead of competing with each other based on real market prices.

In the last 5 years, the 3 companies have raised the sticker prices on their drugs by more than 150%, according to the lawsuit. A recent study by the American Medical Association demonstrated that the price of insulin nearly tripled between 2002 and 2013.

Get the full story at our sister site, Drug Delivery Business News.

 

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