(Reuters) – Eli Lilly has asked the U.S. government to suspend negotiations on prescription drug prices, Bloomberg News reported on Monday, citing CEO David Ricks.
Ricks told the JPMorgan Healthcare conference that the government needed to “fix” the Inflation Reduction Act (IRA) before the second round of price reduction negotiations, the report added.
At 2:14:35 p.m. EST. Open market.
The outgoing administration plans to release a list of upcoming drugs eligible for negotiation before leaving office, Bloomberg reported, citing a person familiar with the matter.
Lilly did not immediately respond to a Reuters request for comment.
Under the IRA, President Joe Biden’s signature legislation, the prices of 10 popular prescription drugs used by Medicare will be reduced by 38% to 79% in 2026.
Regulators are expected to announce the list of 15 additional drugs by February.
(Reporting by Mariam Sunny in Bangalore; Editing by Shailesh Kuber)
