Weitz & Luxenberg is investigating the pricing of insulin by three major drug companies — Eli Lilly, Novo Nordisk, and Sanofi — following a report that the cost of the drug has nearly tripled since 2002. A separate analysis found that prices from two manufacturers rose in tandem during a six-year period.
“Rising insulin costs have significant financial and health impacts for the millions of Americans living with diabetes who depend on this essential, and often, lifesaving medication,” said Paul Novak, managing attorney of Weitz & Luxenberg’s Detroit office. “The rapid increase in pricing warrants a serious review, and we are launching this investigation to determine the drivers behind the price increases and what compensation insulin users are entitled to.”
According to the Journal of the American Medical Association, the price of insulin nearly tripled from 2002 to 2013, bringing insulin costs as high as $700 per month for patients. SSR Health, an investment research firm, found that the prices of two of these drugs, Lantus and Levemir, rose in tandem 12 times between 2008 and 2014.
Weitz & Luxenberg encourages anyone who made a cash purchase of insulin with no insurance coverage to contact the firm. Specifically, the firm is looking for individuals who made purchases in the past three years.
Weitz & Luxenberg has led other investigations related to diabetes drugs, specifically into injuries caused by SGLT2 inhibitor drugs. The firm currently has five cases pending on behalf of individuals who were diagnosed with diabetic ketoacidosis after using SGLT2 inhibitor drugs.