Eli Lilly has asked the U.S. government to pause price negotiations for prescription drugs, Bloomberg News reported on Monday, citing CEO David Ricks. Ricks said at the JPMorgan Healthcare Conference that the government needs to "fix" the Inflation Reduction Act (IRA) before the second round of talks over price cuts,

Eli Lilly and other drugmakers are reportedly planning to urge the Trump administration to pause Medicare drug-price negotiations that were put in place by the Biden administration's Inflation Reduction Act (IRA). "They need to fix [the IRA]," Eli Lilly CEO Dave Ricks told Bloomberg at the JPMorgan Healthcare Conference in San Francisco.