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Lilly CEO emphasizes tax and regulatory reforms, as well as drug affordability, as key priorities under the Trump administration

David Ricks, CEO of Eli Lilly, stated at the Economic Club of Washington on Tuesday that the company’s policy

Lilly CEO emphasizes tax and regulatory reforms, as well as drug affordability, as key priorities under the Trump administration

David Ricks, CEO of Eli Lilly, stated at the Economic Club of Washington on Tuesday that the company’s policy priorities in a second Trump administration will be drug affordability and tax and regulation reform.

Ricks and the CEO of the industry lobbying group PhRMA met with President-elect Donald Trump last week in Florida. Albert Bourla, CEO of Pfizer, reportedly attended as well.

In an interview with David Rubenstein, cofounder of the Carlyle Group, the Lilly CEO did not elaborate on that discussion. He didn’t elaborate on the specific reforms he was aiming for either.

He claimed that throughout the past four years, the U.S. regulatory environment has changed against the pharmaceutical industry.

“After eight years of doing this, I’ve found that there’s often more common ground than you think,” Ricks, who has been Lilly’s CEO since 2017, said.

According to Ricks, the Trump administration might make the case that other wealthy nations ought to foot the bill for pharmaceuticals before lowering cost in the United States.

Americans spend more on medications than people in any other nation.

When Trump returns to office, drugmaker executives have previously stated that they will work to reform the new law that permits Medicare to bargain for more affordable prescription drugs and to change the regulations governing pharmacy middlemen who bargain with drug manufacturers for volume-based discounts.

According to Ricks, Lilly succeeded in “compressing what these middlemen get” in order to lower the monthly cost of some of their insulins to $35.

Ricks’ meeting with the president-elect also included anti-vaccine activist Robert F. Kennedy Jr., Trump’s choice to head the U.S.’ top health agency, according to an Axios article last week.

Trump and corporate executives reportedly talked about a variety of issues, including how the public and private sectors should work together to find cancer solutions.

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