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California sues drugmakers, PBMs for ‘overcharging for insulin’

Posted On: Jan. 13, 2023 9:46 AM CST

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.