Texas Scorecard By Will Biagini October 3, 2024
Attorney General Paxton said that big pharma is working with pharmacy benefit managers to take advantage of diabetes victims. Attorney General Ken Paxton has sued major insulin manufacturers and pharmacy benefit managers over a conspiracy to inflate insulin prices.
Pharmacy benefit managers are third-party companies that act as mediators between drug manufacturers and pharmacies.
According to the attorney general, insulin manufacturers allegedly raised insulin prices and then paid undisclosed portions back to PBMs to be included in the PBM standard offerings. PBMs then granted preferred status to the manufacturers who produce drugs with the highest listing prices—resulting in skyrocketing insulin prices.
Paxton explained that insulin manufacturers raised the prices of their insulin drugs up to 1,000 percent by using a pricing scheme that violates the Texas Deceptive Trade Practices Act.
More:
https://texasscorecard.com/state/texas-sues-major-insulin-manufacturers-for-conspiracy-to-increase-drug-prices/
