Eli Lilly is one of the country's oldest drug manufacturers, notable for introducing the world to Prozac. This year, it was one of the pharmaceutical companies caught up in Congress's investigation into the high price of insulin, but that didn't seem to have dampened the company's market performance.
Drugmaker Eli Lilly has reached a settlement with insulin buyers following six years of litigation. The company agreed to pay a $13.5 million settlement and continue its cap on users' out-of-pocket costs for four years.
Under the settlement, insulin users unable to qualify for the $35-a-month cap — people who no longer use Eli Lilly insulin or those now enrolled in the Medicare and Medicaid programs — may tap into the $13.5 million fund, which also is being used to pay administration costs and fees for the plaintiffs' attorneys.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
