Insulin Overpricing Class Action

If you have diabetes, you are probably already well aware that the price of insulin has soared over the last 20 years. This is remarkable because the drug is over 100 years old, and there have been very few advancements. Manufacturing costs have declined due to increased efficiencies and improved procedures. The price has far outstripped the rate of inflation for other consumer goods. Altogether, evidence suggests that manufacturers and pharmacy benefit managers (PBMs) have artificially inflated the price of insulin at the cost of consumers who depend on this medication to live an everyday life.

Babiarz Law Firm, PA, is positioned to represent individuals against pharmaceutical companies and PBMs involved in this unethical practice. If you believe you have overpaid for your insulin, we can help you understand your options.  

Who Can Be Held Accountable?

As mentioned above, it is believed that both insulin manufacturers and PBMs have been involved in the sharp increase in insulin prices. The following pharmaceutical companies control the vast majority of insulin production: 

• Novo Nordisk
• Eli Lilly
• Sanofi

These are the pharmacy benefit managers that control the majority of the PBM market: 

• Express Scripts
• CVS Caremark
• OPTUMRx

If you take insulin that is manufactured by one of these companies or you work with one of these PBMs, you should contact a personal injury lawyer to discuss whether you have a claim. 

What Your Case May Be Worth

Patients who have suffered health consequences as a result of insulin overpricing may be entitled to considerable monetary compensation and equitable relief. If successful, you may be entitled to the following remedies if you choose to pursue a lawsuit: 

• Recovery of insulin costs based on its unfairly inflated price
• Disgorgement of profits by pharmaceutical companies and PBMs
• Punitive damages
• Injunctive relief ordering pharmaceutical companies and PBMs to halt their illicit pricing schemes

You may be entitled to thousands of dollars or more in financial compensation depending on how long you have been taking insulin. An experienced personal injury attorney from our office can help you explore a potential claim. 

What is a Class Action Lawsuit? 

A class action lawsuit is a procedural means of filing a lawsuit on behalf of a group with the same claim. It allows for justice to be administered more efficiently - both the court and the defendant have to manage only one large lawsuit instead of hundreds or thousands of individual lawsuits. It also allows the plaintiffs to pool their resources better, effectively leveling the playing field and giving them greater leverage. 

In the context of insulin overpricing, joining a class action lawsuit may be a consumer’s best option for getting the compensation they deserve. It is important, however, to understand the trade-offs involved in joining a class action lawsuit as opposed to pursuing your own lawsuit. A personal injury attorney can help you understand your options so that you can decide which course of action is right for you. 

Contact Babiarz Law Firm, PA Today

If you have been affected by insulin overpricing, contact us today by calling 352-205-7599 to schedule a free consultation.