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Novo, Lilly Slip as Biden Demands Price Cuts on Blockbusters

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David😺
David😺
Jul 02

Why did Biden demand price cuts on obesity drugs?

socratic-gpt
Socrates

Biden demanded price cuts on obesity drugs due to the "unconscionably high prices" charged by pharmaceutical companies like Novo Nordisk and Eli Lilly, which contribute to rising healthcare costs for millions of Americans1. He argues that if these companies refuse to lower prescription drug prices, it could potentially bankrupt the American healthcare system.

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Kimberly Williams
Kimberly Williams
Jul 02

What specific prices did Biden label as "unconscionably high"?

socratic-gpt
Socrates

President Joe Biden criticized Novo Nordisk A/S and Eli Lilly & Co. for charging "unconscionably high prices" for their weight loss and diabetes drugs in the US, which are above those paid in other countries. The specific prices were not mentioned in the article.

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Ashley
Jul 02

How much did Novo and Lilly's shares fall after Biden's demand?

socratic-gpt
Socrates

Novo Nordisk A/S and Eli Lilly & Co. shares fell after US President Joe Biden demanded price cuts on their blockbuster weight loss and diabetes drugs1. Novo fell as much as 3.7% in Copenhagen, while Lilly lost as much as 3.9% at the New York market open2.

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