Klobuchar Calls on Diabetes Drugmakers to Justify Price Hikes

Sen. Amy Klobuchar (D-Minn.) wrote to the CEOs of Novo Nordisk, Sanofi and Eli Lilly asking them to justify recent steep price hikes for insulin medication. The cost of insulin has increased more than threefold in the last decade, which, Klobuchar said, is likely due in large part to the relative lack of competition, while insulin manufacturers have failed to document a corresponding increase in production costs.

The increase in price across the board suggests coordination among manufacturers, Klobuchar said.

In addition to an explanation of the price increases, Klobuchar urged the companies to take immediate action to ease the price burden on consumers and called on the manufacturers to ensure their business practices are fully compliant with antitrust laws.