Dave Ricks, CEO at Eli Lilly and Company told the Financial Times that the UK’s strict cost controls have created a problem for households.
Mounjaro issues ‘worst’ warning for all UK households who are using it
The maker of Mounjaro has warned UK households that Britain is the “worst country in Europe” for prices. Dave Ricks, CEO at Eli Lilly and Company told the Financial Times that the UK’s strict cost controls have created a problem for households.
he said that the UK’s strict pricing regime, allowing it to pay less for drugs than other developed countries, means it would miss out on new drugs being rolled out if it did not raise prices and scrap a rebate scheme.
Ricks said Britain’s approach had made it “the most challenging environment for drug companies across the continent.” Mr Ricks said: “Unless that changes, I don’t think they will see many new medicines and I don’t think they will see much investment.”
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He said: “[We] would like to get rid of the clawback scheme … which charges us for our own success. That’s the UK’s choice, but we react to those choices.”
Mr Ricks said: “What we had seen is people taking trains from Paris to buy UK Mounjaro. That doesn’t make a tonne of sense for us.”
Last month, Lilly raised the UK price of the popular weight-loss drug Mounjaro by as much as 170% for those who buy it privately.
US President Donald Trump has been calling for US drug prices to be cut to the levels paid in many other developed countries, a move the industry has opposed.
“Is it the justice department [that would” come to litigate us [if a deal is not reached]? Maybe,” Ricks said. “Is it the [Food and Drug Administration] will stop approving drugs? Maybe.”
On Monday, Trump reiterated his calls for lower drug prices, citing “the fat drug” that can cost more than $1,000 in the US.
“I have a lot of friends. They are fat,” Trump said. “They pay $1,300, $1,200 and they go to London and they pay $88 … We are subsidising the rest of the world.”