Drugmakers Will Ask Trump to Pause Price Negotiations (1)

Eli Lilly & Co. said it and other drugmakers will ask the Trump administration to pause drug-price negotiations, even as Biden-appointed officials prepare a new list of medicines that should be targeted.

“They need to fix it” before negotiating down the price of more drugs, Lilly Chief Executive Officer Dave Ricks said on the sidelines of the JPMorgan Healthcare Conference in San Francisco, referring to the Inflation Reduction Act.

President Joe Biden’s signature legislation, the IRA, allows the US government to pay lower prices on older, widely used drugs in the government’s health-care program for the elderly. The outgoing ...