Olin Corporation has filed a lawsuit in the United States District Court for the District of New Jersey against several pharmaceutical companies and pharmacy benefit managers (PBMs) over alleged price manipulation of insulin and other diabetes medications. The defendants include major drug manufacturers Eli Lilly, Novo Nordisk, and Sanofi, as well as PBM giants CVS Caremark, Express Scripts, and OptumRx. Olin claims that these companies have conspired to artificially inflate drug prices through a scheme involving inflated list prices and secret rebates, violating the Racketeer Influenced and Corrupt Organizations Act (RICO) among other laws. The complaint seeks various forms of relief including damages and injunctive measures to address what it describes as an unfair pricing scheme that has significantly increased costs for payors like Olin.
Source: 225cv17026_Olin_Corporation_v_Eli_Lilly_and_Co_Complaint_District_New_Jersey.pdf
