Burchett to DOJ: Investigate Insulin Price Fixing
WASHINGTON, DC – This week, Congressman Tim Burchett (TN-02) sent a letter to Attorney General William Barr urging the Department of Justice to investigate increasing insulin prices. Market trends show the cost of insulin has nearly tripled over the last decade, creating a financial burden for millions of Americans living with diabetes.
In his letter, Rep. Burchett voices concerns over the rising price of insulin despite the cost of production remaining steady. This practice, known as price fixing, is morally questionable as it places profits over the well-being of consumers who rely upon insulin, according to Rep. Burchett.
“Millions of Americans rely on this life-saving drug. In fact, my home state of Tennessee has one of the highest rates of people living with diabetes in the country. Increasing insulin prices at the rates we’ve seen and without regard to the cost of production is unethical and possibly illegal,” writes Rep. Burchett.
Currently, several class action lawsuits are pending against pharmaceutical companies regarding their insulin prices. Additionally, the House Oversight and Government Reform Committee has been investigating drug pricing since January 2019. Congressman Burchett previously called on the Energy and Commerce Committee’s Subcommittee on Health to look into insulin prices in an April 5th letter.
You can read the full text of the letter to Attorney General Barr here.