As anger grows over the cost of prescription medicines, the Michigan Attorney General is seeking court approval to launch an investigation into Eli Lilly (LLY) over insulin drug prices that the state says are having “devastating impact” on consumers.
The drug maker was accused of charging “grossly” excessive prices for three different insulin products — Lispro, Humalog and Basaglar – that have forced some patients to ration or forego their insulin, restrict their diets, or buy less-effective alternatives. “These practices have caused serious disability and even death in some patients,” the state wrote in court documents.
“The average out-of-pocket cost of a single vial of insulin is nearing $100,” Michigan Attorney General Dana Nessel said in a statement. “No Michigander should have to face that kind of cost for life-saving medicine. While drug companies profit off of people’s health, they also benefit from a current market in which they control the pricing. Enough is enough.”
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