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Unfair and/or Deceptive Trade Practices

• In collaborating to artificially and excessively inflate the price of insulin, the insulin manufacturers and PBM’s engaged in unfair and deceptive trade practices that are actionable in most states. PBM’s misled payors regarding the fair market price for diabetes medications and concealed their agreements with insulin manufacturers and company-owned pharmacies while skimming profits that rightfully should have been passed along to payors.

RICO (Racketeer Influenced and Corrupt Organization Act)

• Insulin manufacturers and PBM’s have colluded in an effort to artificially increase insulin prices to achieve profits far exceeding the fair market value of the drugs and the services the PBMs provided. The federal RICO statute is an ideal vehicle to ensure they are collectively held accountable for the harm they have caused. The misconduct also supports a claim for civil conspiracy, which typically requires evidence similar to the evidence supporting a RICO claim.

The legal claims will seek significant equitable and monetary relief. Potential remedies include:

• Money wrongfully paid for artificially inflated insulin prices on behalf of your insured beneficiaries. For some claims, the damages awarded can be trebled – not only compensate you for the expenses you have wrongfully incurred, but also to deter similar future behavior from these defendants and others like them.

• Injunctive relief to stop the insulin pricing scheme. This would ensure that you and your members do not suffer monetary harm in the future.

• Disgorgement of ill-gotten gains on the part of the PMS and manufacturers.

• Punitive damages designed to punish past misconduct and deter future misconduct.