Attorney General Miyares Announces Investigation into Pharmacy Benefit Managers and Manufacturers Over Insulin Pricing

RICHMOND, Va. (VR) — Attorney General Jason Miyares today announced that his Office is investigating several insulin manufacturers and pharmacy benefit managers (PBMs) for potential violations of the Virginia Consumer Protection Act related to the manufacture, promotion, reimbursement, and sale of insulin.

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.

“Thousands of Virginians live with diabetes, and none of them should have to worry whether they can afford the medication they need to survive. My Office is investigating the companies behind the soaring cost of insulin to protect Virginia families,” said Attorney General Jason Miyares. “My Office will not hesitate to act. Stay tuned.” 

The Virginia Consumer Protection Act authorizes the Attorney General to investigate businesses when there is reason to believe they have engaged in fraudulent or deceptive practices that harm Virginia consumers.