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California sues drugmakers, PBMs for ‘overcharging for insulin’


California is suing the United States' leading insulin makers and pharmacy benefit managers, accusing them of using their market power to overcharge patients for the life-saving drug, Reuters reports. The lawsuit, filed in California Superior Court in Los Angeles Jan. 12, targets Eli Lilly & Co., Novo Nordisk A/S and Sanofi SA, which together make more than 90% of the insulin drugs sold globally. It also names the three largest PBMs, which account for about 80% of the market: UnitedHealth Group Inc.'s Optum unit, CVS Health Corp.'s CVS Caremark and Cigna Corp.'s Express Scripts.

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