Eli Lilly Says It Has Received Civil Investigative Demands About Insulin Pricing From Two State Attorney Generals

Eli Lilly & Co. has received civil investigative demands related to its insulin prices from the attorney generals in Washington State and New Mexico, according to a 10-Q financial filing. The Washington State AG's office demand has to do with insulin prices as well as "our relationships with pharmacy benefit managers," industry middlemen that negotiate drug prices, while the demand from the New Mexico AG's office asked about insulin pricing, according to the 10-Q. Eli Lilly is cooperating with both investigations, it said. Insulin prices have skyrocketed over the last several years, making it challenging for diabetics to afford the medication. Eli Lilly, a major insulin manufacturer, has benefited from the industry-wide trend. Eli Lilly shares slumped 0.1% at $81.98 in midday trade on Monday. Shares have risen 5.6% over the last three months, compared with a 4.9% rise in the S&P 500 .

Copyright © 2017 MarketWatch, Inc.