Eli Lilly asks European nations to scrap clawback taxes, FT says

Eli Lilly (LLY) has asked European nations to discard clawback taxes on drug sales, Hannah Kuchler of The Financial Times reports. As the Trump administration pushes for a policy that would lower drug prices in the U.S. to match the cheapest levels in other developed nations, Lilly CEO David Ricks said the company will lower U.S. costs while raising them in Europe to equalize the drug prices. The pharma industry has been dealing with UK’s clawback tax, where a certain percent of revenue above a cap is paid back to the government, but Risks believes the system should not exist in any country.