California to insulin manufacturers: Stop being so greedy

January 27, 2023

In the seemingly endless war against skyrocketing insulin prices, the state of California became the latest to join the battle by filing a lawsuit against the three big insulin manufacturers – Eli Lilly, Novo Nordisk and Sanofi – which together control 90% of the global insulin supply

California Attorney General Rob Bonta accused the three pharma giants of “unlawful, unfair and deceptive” practices, according to a report by the San Francisco Examiner. The lawsuit also names large pharmacy benefit managers – CVS Health, Express Scripts and OptumRx – which control 80% of the U.S. insulin market.

An estimated 38 million Americans – roughly 10% of the population – suffer from diabetes and about 8 million require insulin to treat their disease. A new federal law caps insulin costs at $35 a month for Americans on Medicare. But people younger than 65 will not benefit from that cap and some, depending on their health insurance coverage, may spend hundreds of dollars a month for the life-saving medication.

Instead of finding ways to lower costs, the California lawsuit alleges that pharmaceutical companies and their partners engaged in illegal activities to squash competition and continue to raise costs with no legitimate justification.

Do you or someone you love require insulin to manage diabetes? How have the rising costs affected you? Share your story with Voices for Affordable Health.