Navigating the complexities of insulin pricing lawsuits requires skilled legal expertise. Phillips Law Group may be the right choice of legal advocates if you’re looking to investigate cases of insulin overpricing. Although there have been great strides in getting companies like Eli Lilly & Co. to agree to cap insulin prices, people with self-funded healthcare plans or in other situations where insulin pricing could still be an issue may need legal assistance to hold insulin manufacturers or pharmacy benefit managers (PBMs) accountable.
Insulin Overpricing
In recent years, the escalating cost of insulin has sparked significant insulin pricing lawsuits. Insulin medications were priced much lower in the 1990s, and despite the fact that vials of these meds cost little for manufacturers to produce, many chose to raise the price of the lifesaving medication astronomically, hurting consumers who desperately need it.
Indeed, according to a recent RAND Corporation study, “The average price in America, across all types of insulin, was more than ten times higher than the average for all of the other countries combined.” This is unconscionable when we are talking about much-needed medication that saves lives.
While copay caps on insulin are a step in the right direction, some people may still need to pursue insulin pricing lawsuits for various reasons, including those managing self-funded plans.
Holding Manufacturers Accountable
Some individuals impacted by insulin overpricing might need to get assistance from legal advocates to hold drug manufacturers and PBMs accountable. Attorneys skilled in this area may be able to help people advocate for more transparent and fair pricing in the pharmaceutical industry through legal action.
In certain situations, people may be able to pursue compensation such as financial compensation for the discrepancy between the actual amounts paid or reimbursed for insulin and the amounts that should have been paid if not for overpricing schemes. Punitive damages for past misconduct are also a possibility in an insulin pricing claim.
Phillips Law Group could be the right partner for you to pursue justice for insulin overpricing and to hold corporations involved in the manufacturing of insulin medication accountable. Please call our firm today at 602-222-2222 to speak with a member of our team and learn more about your legal options.
We look forward to hearing from you and helping you determine what your legal prospects may be during a free, no-obligation, confidential evaluation. Call now to find out more!
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