Insulin Makers Price Collusion – Potential Antitrust Litigation
Chimicles & Tikellis is investigating a potential class action lawsuit against insulin manufacturers Eli Lilly, Sanofi and Novo Nordisk. On November 3, 2016, Senator Bernie Sanders and Representative Elijah Cummings sent a letter to the Department of Justice and Federal Trade Commission urging the agencies to investigate whether these entities have colluded or engaged in anticompetitive behavior in setting their insulin drug prices. According to the letter, the original patent on insulin expired 75 years ago, yet these three entities have continuously raised prices on this life-saving medication. It has further been reported that several of these price increases mirrored one another precisely. The letter notes that there are six million Americans who use insulin to treat diabetes, and that the Congressmen have heard from their constituents that this life-saving insulin is becoming increasingly unaffordable.
If you have purchased or paid for Sanofi’s Lantus drug; Ely Lilly’s Humalog drug; or Novo Nordisk’s Levemir drug within the past four years and noticed one or more price increases, please contact us to discuss this investigation.