Governments Suing Pharmacy Benefit Managers Over Insulin Prices Have Long Benefited From Their Rebates
Portfolio Pulse from Vandana Singh
Several state and local governments have filed lawsuits against drug companies and pharmacy benefit managers (PBMs) for allegedly inflating insulin prices. Despite these claims, these governments have benefited from the rebate system they now challenge. Eli Lilly, Sanofi, and Novo Nordisk have reduced insulin prices, contradicting the lawsuits' claims. The lawsuits highlight PBMs' role in driving up patient costs by demanding rebates and fees, which do not benefit patients.
August 26, 2024 | 5:59 pm
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POSITIVE IMPACT
Eli Lilly has reduced the net price of its Humalog insulin significantly, contradicting claims of inflated insulin prices in lawsuits against PBMs.
Eli Lilly's reduction in insulin prices directly contradicts the lawsuits' claims of inflated prices, potentially improving its public image and investor confidence.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
Novo Nordisk has also reduced insulin prices, which may challenge the claims in lawsuits against PBMs about inflated insulin prices.
Novo Nordisk's price cuts may help counteract negative claims from the lawsuits, potentially supporting its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Sanofi has reduced the prices of its insulin products, which may counteract the claims in lawsuits against PBMs regarding inflated insulin prices.
Sanofi's price reductions may mitigate negative perceptions from the lawsuits, potentially benefiting its stock price.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 70