Lilly Sidelined Three Drugs Due To IRA, CEO Ricks Says
Eli Lilly & Co. CEO David Ricks highlighted how Medicare drug price negotiation policies are already impacting R&D investment during a J.P. Morgan investor call.
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Hospital procedures are rebounding following the pandemic and the US population is aging. But what sounds like good news for pharma is curbed by the risk of Medicare insolvency, and suing the government cannot solve that.
Lilly agrees to pay about $2.4bn to acquire Dice and its Phase IIb oral IL-17 inhibitor, as well as a discovery platform that has yielded a preclinical oral PD-L1 inhibitor.
In this week's podcast edition of Five Must-Know Things: new IRA concerns and legal action in the US; Biogen brings in another ex-Sanofi exec; Novartis buys into kidney disease; and China appears to be raising the regulatory bar in the immune-oncology space.