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WASHINGTON, DC — Eli Lilly announced nearly $3 billion in Q2 2024 earnings today, a 68% increase from the previous year. Eli Lilly’s diabetes medication, Jardiance—which it co-manufactures with Boehringer Ingelheim—is one of the first 10 medications subject to the Biden-Harris administration’s historic Medicare negotiation program. The drug saw an 11% increase in Q2 2024 U.S. revenue. As of 2022, Medicare has spent over $14.5 billion on Jardiance, or roughly $4,430 per prescription. 

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Over a million Medicare enrollees – seniors and other patients – rely on Jardiance as a life-saving treatment for type-2 diabetes. But rather than meet these patients with a reasonable price, Eli Lilly is spending millions to lobby Congress while working to undermine the Biden-Harris administration's historic Medicare negotiation program. Eli Lilly cut prices on insulin after White House pressure. It’s past time to do the same with life-saving medications like Jardiance.”

Accountable.US Executive Director Tony Carrk

In April, government watchdog Accountable.US released an analysis showing that Eli Lilly spent $1.73 million while fighting against Medicare drug negotiations in Q1 2024. 

PhRMA—the largest pharmaceutical trade group representing Eli Lilly and its peers—sued to block implementation of the Inflation Reduction Act’s Medicare negotiation program last year. Eli Lilly is an active member of PhRMA, with the company’s CEO David Ricks serving on the group’s board of directors. While PhRMA’s case was tossed out due to lack of standing, the group appealed the decision to the conservative Fifth Circuit Court of Appeals.

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