Henrico County’s lawsuit alleges that the defendant pharmaceutical manufacturers and pharmacy benefit managers engineered a scheme to inflate the price of insulin and other diabetes medications.
Today, the nationally recognized law firm Baron & Budd announced it is representing
Although the cost to produce diabetes medication has decreased or remained relatively constant over the last 20 years, the cost of these medications has skyrocketed, far outpacing inflation. Government investigations have found that it costs drug manufacturers as little as
Henrico County’s lawsuit alleges that the defendant pharmaceutical manufacturers colluded with pharmacy benefit managers to suppress competition and increase the prices of their insulins up to 1000%. The lawsuit alleges that the defendants violated the unfair trade practices and consumer protection laws and seeks to recover damages incurred by
“Inflating the costs of life-saving medications, like insulin, puts an unnecessary financial burden on privately funded health plans,” said Baron & Budd Shareholder,
Baron & Budd currently represents several government entities who filed similar lawsuits alleging that pharmaceutical manufacturers and pharmacy benefit managers unjustly inflated the costs of diabetes medications and suppressed competition. States, local governments, unions, and private companies with self-funded employee health plans may have suffered similar harms with respect to the price of insulin and other diabetes medications. For more information, contact Baron & Budd at 800-222-2766.
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The post Baron & Budd Represents Henrico County, Virginia in Lawsuit Against Pharmaceutical Manufacturers and Pharmacy Benefit Managers for Alleged Insulin Pricing Scheme appeared first on Insurance News | InsuranceNewsNet.