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Senate Finance Committee Uncovers “Opaque Business Practice” That Caused Rising Insulin Cost

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Senate Finance Committee Uncovers “Opaque Business Practice” That Caused Rising Insulin Cost

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The Senate Finance Committee released a report on Jan. 14 detailing the “opaque” business dealings between drug manufacturers and pharmacy benefit managers (PBMs) that led to the higher cost of insulin for the past 15 years. The report (pdf) is a result of an almost two-year bipartisan investigation led by Chairman Chuck Grassley (R-Iowa) and Ranking Member Ron Wyden (D-Ore.) into marketing practices and drug pricing of insulin. “There is clearly something broken when a product like insulin that’s been on the market longer than most people have been alive skyrockets in price,” Grassley said in a statement. The report includes over 1,700 pages out of the 100,000 documents of contracts, internal emails, and presentations from the three manufacturers (Eli Lilly, Sanofi, and Novo Nordisk) that provides insulin to the United States and three of the largest PBMs (Express Scripts, CVS Caremark, and OptumRx) who act as middlemen in the …

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