The big three insulin makers — Sanofi (SNY), Eli Lilly (LLY), and Novo Nordisk (NVO) — have recently received subpoenas from the New York attorney general in connection with an inquiry into their pricing practices.
In a filing with the Securities and Exchange Commission, Sanofi disclosed the subpoena, which seeks various documents concerning pricing, discount programs, sales and expenses, contracting, marketing materials, and legal proceedings. The drug maker noted it is cooperating (see page 39.)
A Lilly spokeswoman indicated the company is cooperating. A Novo spokesman wrote us that “this is a matter we take extremely seriously. As a company committed to patients with diabetes, we ensure that our business practices are consistent with legal and regulatory requirements, and are compliant with the law.”
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Maybe these drug manufacturers should tell the Attorney General of New York
that rebates must be paid to pharmacy benefit managers in order to maintain desirable positions on formularies, which are the list of medicines covered by insurance !!
Insulin prices , just like drug prices will never come down until the PBM issue is addressed and
these PBM’s are governed, made to be transparent and the playing field is leveled.
It is hard to have an informed, effective discussion of pricing when no one seems to know ( or admit?) what it is?