OK AG announces potential legal action over insulin costs

OKLAHOMA CITY (KFOR) – As national lawmakers continue to debate legislation that would cap the price of insulin, Oklahoma Attorney General Gentner Drummond says he is exploring potential legal action against insulin manufacturers and pharmacy benefit managers over artificially increased prices for the diabetes medication.

Insulin, a hormone that helps convert food into energy, is critical to controlling blood sugar levels in patients with diabetes. Nearly 13 percent of Oklahoma adults are diagnosed with diabetes.

Drummond has issued a Request for Proposal for outside counsel to investigate conduct and potentially pursue litigation.

“I will not allow price-gouging and greed to put in harm’s way innocent Oklahomans who are dependent on insulin to survive,” Drummond said. “I will fight to hold accountable anyone who has hiked insulin prices illegally and prioritized profits over patients.”

Eli Lilly, Novo Nordisk, and Sanofi - the three main manufacturers of insulin - have all lowered the price on the majority of their insulin products by 70-78 percent in the last year.