Minnesota AG Negotiates Insulin Price Cap with Eli Lilly

  • Minnesota AG Keith Ellison settled with Eli Lilly and Co. to resolve allegations the pharmaceutical company deceptively priced its insulin products, causing certain patients to pay higher “list” prices for the drugs than others.
  • The lawsuit alleged that Eli Lilly fraudulently set an artificially high list price for its insulin products while negotiating a lower actual price with pharmacy benefit managers for individuals with insurance, resulting in underinsured and uninsured patients paying the higher list price.
  • Under the terms of the settlement, Eli Lilly will cap the out-of-pocket cost of monthly prescriptions for consumers in the state at $35 for the next five years, and provide free insulin products to state non-profit clinics for five years.
  • As we recently covered, New York AG Letitia James negotiated similar insulin price caps with Eli Lilly, Sanofi-Aventis U.S. LLC, and Novo Nordisk Inc.