Sanders: ‘Naive’ to Not Believe There Is ‘Collusion’ Among Drug Makers to Hike Insulin Prices

Lawsuit accuses drug makers of conspiring to hike insulin prices (CBS News)

Vermont Sen. Bernie Sanders is calling for a federal investigation, alleging collusion among the three drug companies: Eli Lilly, Novo Nordisk and Sanofi. 

“Just coincidentally it happens that the three major suppliers of insulin seem to be raising their prices at the same exact time, at the same level. So I think you have to be very naïve not to believe there is collusion,” Sanders said. 

The companies deny they’ve broken any laws. Sanofi told CBS News there is “strong competition” on price. Eli Lilly said it is “aggressively competing on net (or negotiated) price,” and Novo Nordisk’s president said on the company’s website that increasing list prices is designed to offset rebates and price concessions to maintain profitability.