Oklahoma Attorney General Gentner Drummond files a lawsuit against drug manufacturers alleging unfair and deceptive pricing for insulin.
Insulin is a hormone that helps convert food into energy and is critical to controlling blood sugar levels in diabetes patients.
Alleging violations of the Oklahoma Consumer Protection Act, Drummond said manufacturers have significantly raised the prices of their diabetes drugs in lockstep during the last 15 years despite the fact that the costs of producing the critical drugs have diminished.
Drummond says the cost for the manufacturers named in the lawsuit to produce insulin today is less than $2 per vial, according to the filing. The drugs, which sold for $20 in the late 1990s, now range between $300 and $700. In the last decade, the manufacturer defendants have hiked the price of their insulin up to 1,000 percent.
Oklahoma has among the highest rates of diabetes in the nation, with 11 percent of the population or about 450,000 people living with the disease. It is the seventh leading cause of death in Oklahoma despite the availability of effective treatments.