Eli Lilly CEO Denounces Plan to Consider Drug Imports

Executives at pharmaceutical company Eli Lilly have condemned the Trump administration's proposal to consider ways to import prescription drugs from abroad, calling for regulatory reforms instead, reports The Hill . Executives said the concept of importing drugs from other countries, even in limited circumstances, is worrisome. The U.S. Department of Health and Human Services (HHS) recently announced it is creating a working group to study how the United States could import pharmaceuticals from abroad as a way to fight steep price increases for drugs that are produced by one manufacturer and that are not protected by patents or exclusivities. HHS Secretary Alex Azar, who used to oversee Lilly's U.S. division, argues that importing drugs could increase competition and discourage manufacturers from implementing extreme price jumps just to make a profit. David Ricks, Lilly's chairman and CEO, said he supports expanding access to prescription drugs and keeping prices affordable. But he said importing drugs is not the solution, and pressed for regulatory reforms instead. Ricks said he is planning for a policy change, and noted he is open to changing the Medicare drug rebate structure — something currently under criticism by Azar, who thinks rebates provide an incentive for higher drug prices.