Insulin Pricing

Plaintiffs assert claims on behalf of direct purchasers that paid inflated prices for insulin due to an unlawful scheme by drug manufacturers and pharmacy benefit managers (“PBMs”). Plaintiffs assert claims under RICO alleging that the manufacturers and PBMs—who together control the vast majority of the prescription drug market—conspired to manipulate the list prices for insulin and induced TPPs to include Defendants’ insulin products on their formularies. The case is one of the first of its kind against PBMs for their role in conspiring with manufacturers to unlawfully raise list prices. The higher prices, which are borne by TPPs and other direct purchasers, allow the PBMs to reap huge profits in the form of rebates, calculated as a percentage of the drug’s list price.

Plaintiffs’ case was subsumed within a wide-ranging MDL created in the District of New Jersey. KTMC’s Melissa L. Yeates was appointed by the Court as Interim Class Counsel/Co-Lead Counsel for the Class.