Minnesota Attorney General Keith Ellison announced a settlement with pharmaceutical company Norvo Nordisk over allegations of inflated insulin prices. The suit was filed in 2018, and in that time Ellison says insulin costs had reached $6,000 a year.
"That $6,000 is coming down to $600 for the next five years in Minnesota," says Ellison. "And whether you're using Eli Lilly, Sanofi and Novo Nordis products, your insulin costs will be $35 a month, period."
ELi Lily and Sanofi were defendants in that same lawsuit, and they reached settlements with the state last year.
Along with Noro Nordisk, these are the three largest insulin manufacturers in the world. Ellison says the settlements offer immediate relief to those dependent on insulin, and they also bought time to find permanent solutions through state legislation.
Ellison points out that the settlement means the price of insulin in Minnesota will stay at $35 a month for the next five years as part of the agreement.
"It can't be the end of the story," Ellison said Monday. "These settlements have offered immediate relief to Minnesotans, but they've also bought lawmakers' time to explore permanent solutions. So we don't find ourselves back in the bad old days in five years from now."
To learn more, Minnesotans are encouraged to visit MNInsulin35.org, a website set up by the Attorney General’s Office to share information about how to purchase insulin for just $35, or obtain it for free depending on one’s income.
“With this final insulin settlement, we have guaranteed that Minnesotans can not only obtain and afford their insulin, but they can choose between manufacturers and insulin products to ensure they get what they need,” Attorney General Ellison added. “While our insulin lawsuits have been resolved, the work my Office to make life more affordable for folks across our state remains ongoing.”