Attorney General Jason Miyares has announced that his office is conducting an investigation into several insulin manufacturers and pharmacy benefit managers (PBMs) over possible violations of the Virginia Consumer Protection Act. The probe focuses on whether these companies may have worked together to raise the price of insulin and misled consumers about the reasons for those increases.
According to a statement from 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.”
Under state law, the Attorney General can investigate businesses suspected of engaging in fraudulent or deceptive practices that negatively impact consumers in Virginia.
