UK and US agree zero-tariff deal on pharmaceuticals
The Trump administration said that in return, U.K. drugs firms committed to invest more in the U.S. and create more jobs.
The Trump administration said that in return, U.K. drugs firms committed to invest more in the U.S. and create more jobs.
The decision is the latest in a series of moves to make its GLP-1 blockbuster more widely available and affordable.
The latest negotiated prices apply to some of the prescription medications on which Medicare spends the most money.
The Indianapolis-based drugmaker said the coverage would be administered by third-party administrators to provide employers “transparent, flexible cost-sharing options” for their workers.
Thousands of victims of the opioid epidemic could be paid thousands of dollars each, with a portion of the money distributed next year to some people who had OxyContin prescriptions and their survivors.
As GLP-1 drugs for weight loss and diabetes drugs such as Zepbound and Mounjaro generate billions in sales, researchers at Eli Lilly and Co. and other pharma companies are exploring their potential for other purposes.
Lilly’s shares have taken off in the wake of several significant deals and after it received fast-track regulatory review for highly anticipated weight-loss pill orforglipron.
Thursday’s announcement is the latest attempt by the Trump administration to rein in soaring drug prices in its efforts to address cost-of-living concerns among voters.
The deal is seen as one of the most significant in the administration’s current drug-pricing push, given the potential effect on public health and spending on health care.
The facility is expected to produce oral medications, including Lilly’s highly anticipated GLP-1 pill for weight loss, orforglipron.
Eli Lilly and Co. is funding and participating in an Indiana University study that examines the health outcomes of people on weight loss drugs, including Lilly medications.
With quarterly revenue up 54% from a year ago, Eli Lilly raised it guidance for the year, with the company now expecting revenue in the range of $63 billion to $63.5 billion.
Through its LillyDirect pharmacy, Eli Lilly plans to offer steep discounts on single-dose vials of Zepbound by partnering with the nation’s largest retail chain.
Indianapolis-based Eli Lilly and Co. said the improved facility in Carolina, Puerto Rico, will make orforglipron, Lilly’s highly anticipated weight loss pill.
Per the agreement, the Indianapolis-based drugmaker will continue to manufacture the drug, which India-based Cipla will sell under a new brand name.
Mehmet Oz, head of the Centers for Medicare and Medicaid Services, said talks over the price of weight-loss drugs are still ongoing.
Indianapolis-based Eli Lilly and Co. said the investment will strengthen its manufacturing and supply capabilities to support its growing portfolio of drugs.
Shares in Indianapolis-based Eli Lilly and Co. were on the rise Wednesday after President Trump suggested the company would be next up to cut a deal over drug pricing.
Employees at the facility will work alongside a robotic storage and retrieval system that can provide real-time information regarding inventory, order fulfillment and material flow.
The announcements are part of an effort to secure “Most Favored Nation” pricing deals with pharmaceutical manufacturers, an effort to link U.S. drug prices to the lowest cost of drugs paid by the wealthiest countries.