U.S. Lawmakers Request Info From Insulin Makers On Rising Prices

www.oann.com | 1/18/2019 | Staff
max1max1 (Posted by) Level 4
WASHINGTON (Reuters) – Two powerful U.S. lawmakers sent letters to the three leading insulin manufacturers on Wednesday requesting information on why its cost has skyrocketed in recent years and how much the companies profit from the life-sustaining diabetes treatment.

Democratic Representatives Frank Pallone and Diana DeGette, the chairman and a top-ranking member of the House Energy and Commerce Committee, respectively, wrote to the heads of Eli Lilly and Co, Novo Nordisk and Sanofi, the long-time leading manufacturers of insulin. The drugmakers have all raised the price of insulin at similar rates over the last several years.

Fact - Decades - Prices - Insulin - Years

“Despite the fact that it has been available for decades, prices for insulin have skyrocketed in recent years, putting it out of reach for many patients,” the lawmakers wrote.

“As one of the few manufacturers of insulin in the United States, your company is well-suited to shed light on these issues and offer potential solutions,” the letter to the three companies said.

Committee - Date - Hearing - Spokesman - DeGette

The committee has not set a date for a hearing, a spokesman for DeGette said. It has the power to subpoena the drugmakers if they do not answer the committee’s request.

The annual cost of insulin for treating a type 1 diabetes patient in...
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