Lawmakers want answers on rising insulin prices

Members of the House Energy and Commerce Committee sent letters to three leading insulin manufacturers Jan. 30, inquiring about increasing insulin prices.

Three things to know:

1. Committee Chairman Rep. Frank Pallone, D-N.J., and top-ranking member Rep. Diana DeGette, D-Colo., requested information from Sanofi, Eli Lilly and Novo Nordisk on the average price of their insulin products and annual net profits.

"Despite the fact that it has been available for decades, prices for insulin have skyrocketed in recent years, putting it out of reach for many patients," the lawmakers wrote in the letters. "As one of the few manufacturers of insulin in the United States, your company is well-suited to shed light on these issues and offer potential solutions."

2. The drugmakers must provide all requested information by Feb. 13. If they do not respond, the committee has the power to subpoena drugmakers to testify at a hearing, a spokeswoman for Ms. DeGette told Reuters.

3. Sanofi told the publication it plans to work with the committee to fulfill its request for information. Novo Nordisk and Eli Lilly did not immediately respond to Reuters' requests for comment.

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