Eli Lilly CEO Shares Thoughts on How Medicare Pricing Measures Could Impact Innovation

Eli Lilly CEO David Ricks shared his thoughts on how policies intended to lower drug prices would negatively impact pharmaceutical innovation. He pointed to the large shift in pharma from Europe to the United States following pricing measures. He also noted the number of pharmaceutical products designed in response to the COVID-19 pandemic.

“Ricks has said that Lilly’s U.S. revenues would decline by 40%, forcing many employees out of jobs and deep cuts to R&D. But those pushing for drug price reform say the industry claims are overwrought.” Read more here.

(Source: Kevin Dunleavy, Fierce Pharma, 10/25/21)