Express Scripts excludes Lilly's low cost insulin generic from preferred formulary

Express Scripts Holding Co. (NASDAQ:ESRX) excluded from its 2019 preferred formulary Eli Lilly's newly launched generic insulin product, reinforcing the idea that PBMs want bigger rebates, not cheaper drugs.

PBMs and insurance companies typically require manufacturers pay rebates to secure inclusion or a favorable position on formularies. The biopharma industry has argued that high list prices are required to make large rebates possible, increasing out-of-pocket costs for beneficiaries because co-insurance payments are based on list prices...