The City of Charlotte is suing pharmaceutical companies over inflated insulin prices, alleging they have overpaid millions for the medicine through their employee health plans.
Charlotte officials claimed in the lawsuit that insulin, which costs about $2 to produce, can be sold by manufacturers for as much as $700.
The lawsuit accuses certain drug companies and Pharmacy Benefit Managers of colluding to raise insulin prices, alleging violations of the state’s unfair and deceptive trade practices law…