Senate Finance Committee Uncovers ‘Opaque Business Practice’ That Caused Rising Insulin Cost

Senate Finance Committee Uncovers ‘Opaque Business Practice’ That Caused Rising Insulin Cost
An individual holds insulin medicine in Minnetonka, Minn., on Jan. 17, 2020. Kerem Yucel/AFP via Getty Images
Meiling Lee
Updated:
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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.