U.S. insulin manufacturer and pharmacy benefit manager (PBM) business practices “have created a vicious cycle of price increases that have sent costs for patients and taxpayers through the roof,” U.S. Senate Finance Committee leaders Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.) said last week upon releasing the results of their two-year-long investigation “into the skyrocketing price of insulin.”
While the report does not mention the 340B program, its findings could shed light on why the three insulin manufacturers serving the U.S. market—Lilly, Sanofi, and Novo Nordisk—are leading the drug industry fight against 340B contract pharmacy. The report also might have revealed what’s motivating Lilly, Sanofi, and Novo Nordisk so powerfully—namely, the desire to reduce 340B drug discount liabilities to make up for revenues lost to what lawmakers perceive as massive PBM rebates.
U.S. insulin manufacturer and pharmacy benefit manager (PBM) business practices “have created a vicious cycle of price increases that have sent costs for patients and taxpayers through the roof,” U.S. Senate Finance Committee leaders Chuck Grassley (R-Iowa) and Ron Wyden (D-Ore.) said last week upon releasing the results of their two-year-long investigation “into the skyrocketing price of insulin.”
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