WASHINGTON, DC — Pharmaceutical giant Eli Lilly reported $2.19 billion in Q4 2023 net income today—a staggering amount made possible by aggressive price hikes against American seniors and patients. Eli Lilly raised overall prices in the United States by 27% in Q4 2023. 

Eli Lilly’s earnings today call into question big pharma’s claims the sky would fall if they lowered costs for patients in need. Their refusal to do so without regulatory intervention is a symptom of greed. While PhRMA—who represents Eli Lilly and their industry peers—sues to keep a rigged system in place, the Biden administration is taking significant strides to crack down on corporate price gouging and lower costs for millions of Americans.”

Accountable.US’ Tony Carrk

PhRMA, the largest pharmaceutical trade group, sued to block implementation of the Inflation Reduction Act’s Medicare negotiation program last year. Despite industry objections, the program is expected to save nearly 19 million seniors and other Medicare Part D enrollees $400 a year by 2025. 

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