Eli Lilly & Co. President and CEO David Ricks said that he left a meeting alongside other big biopharma executives with President Donald Trump on Jan. 31 with “some confidence” about working with the new administration on tax, regulation and drug pricing issues.
Lilly may be cushioned somewhat from criticism about its drug price increase practices, since the company’s 7% revenue growth in the fourth quarter of 2016 was driven largely by sales volume rather than price hikes. Pharmaceutical product sales volume jumped 9% (15% in the US) while drug prices slipped 1% globally despite a 1% rise in the US