Kentucky is suing three insulin makers — Eli Lilly, Sanofi and Novo Nordisk — over alleged price-gouging, according to The Hill. The state is the latest to sue insulin manufacturers over the pricing of the product.
Kentucky Attorney General Andy Beshear claims the three major insulin manufacturers violated the state's consumer protection law when they raised the price of insulin at the expense of taxpayers. The three insulin companies control 96 percent of the insulin market, Mr. Beshear said.
Eli Lilly, Sanofi and Novo Nordisk have raised the price of insulin products to an average of $300, although production costs are less than $7 per vial, the lawsuit alleges.
"It is truly heartbreaking that Kentuckians are suffering, sometimes risking life and limb, because they cannot afford their medications," Mr. Beshear told The Hill. "The outrageous actions of these drug companies is a big reason we all pay too much for prescription drugs, and I am insisting they pay up for putting profits ahead of our Kentucky families."