Under pressure from U.S. President Donald Trump to align American drug costs with other nations, Eli Lilly (LLY) is raising the list price of its diabetes drug Mounjaro in the United Kingdom (U.K.).
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
The price increase in the U.K. will take effect starting in September of this year and comes as President Trump threatens 200% tariffs on drug makers if they don’t lower medication prices in the U.S. or raise them abroad.
In a statement, Eli Lilly said it reached an agreement with the U.K. government to increase the list price of its weekly Mounjaro injection, while “maintaining access” for patients covered under the publicly funded healthcare system known as the National Health Service or NHS.
List Price
Mounjaro’s current list price in the U.K. ranges from £92 (US$125) to £122 a month, depending on the dosage, according to Eli Lilly. The drug’s new list price will increase to between £133 and £330 starting on Sept. 1.
Eli Lilly has said that it supports the Trump administration’s goal of keeping the U.S. the “world’s leading destination for biopharmaceutical research and manufacturing, and the objective of more fairly sharing the costs of breakthrough medical research across developed countries.” LLY stock is down 12% this year.
Is LLY Stock a Buy?
The stock of Eli Lilly has a consensus Strong Buy rating among 21 Wall Street analysts. That rating is based on 17 Buy and four Hold recommendations issued in the last three months. The average LLY price target of $934.44 implies 41.48% upside from current levels.
