California latest to sue drug companies over insulin prices
California says it will sue the companies that make and promote much of the nation's insulin
SACRAMENTO, Calif. (AP) — California on Thursday announced it will sue the companies that make and promote most of the nation's insulin, accusing them of scheming to illegally increase the price of the drug and demanding they return millions of dollars to some diabetics who state officials say were overcharged for the medicine they must have to survive.
The lawsuit, to be filed in Los Angeles County Superior Court by Attorney General Rob Bonta, is the latest in a parade of legal actions against these companies from states across the political spectrum — all who have accused the corporate giants of abusing their power to quash competition and boost their profits by keeping the price of insulin high.
A 2021 study by the RAND Corporation comparing the insulin prices of nearly three dozen countries found prices in the United States were about 10 times higher than everywhere else. The average price of a vial of insulin in the United States was $98, while in nearby Canada it was $12.
Attorneys general in Kansas, Arkansas,Mississippi,Minnesota and Kentucky have all filed similar lawsuits in recent years.
