Attorney General Jason Miyares has announced an investigation into several insulin manufacturers and pharmacy benefit managers (PBMs) for possible violations of the Virginia Consumer Protection Act. The focus of the investigation is on allegations that these companies may have worked together to raise the price of insulin artificially, while misleading consumers about the causes behind those increases.
According to Miyares, “The investigation centers on allegations that insulin manufacturers conspired with PBMs to artificially inflate the cost of diabetic medications, while deceiving consumers about the reasons, or lack thereof, for those price increases.”
The Virginia Consumer Protection Act gives the Attorney General authority to investigate businesses suspected of engaging in fraudulent or deceptive practices that could harm residents in Virginia.
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