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UK Drug Pricing Crisis: Bristol Myers Launches Cobenfy Amid Warnings

9/24/2025

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Summary

Bristol Myers Launches

Bristol Myers Squibb plans to launch Cobenfy in the UK at $1,850 monthly, matching U.S. pricing amid MFN pressure.
Eli Lilly's Dave Ricks calls the UK 'the worst country in Europe' for drug prices, warning strict pricing could deter new medicines and investments.
Nearly £2 billion in UK investments have been paused or canceled this year amid tough market conditions.

Summary

Eli Lilly Expands Operations

Eli Lilly and Company plans a $6.5 billion Houston, Texas plant to produce orforglipron, creating more than 600 permanent jobs and 4,000 construction roles.
Innovent Biologics launched Xinermei in China to compete with Lilly's Mounjaro and Novo Nordisk's Wegovy; Xinermei targets liver health; analysts predict revenue growth.
China's weight-loss drug landscape is intensifying, with Wegovy generic competition expected by 2026.

History

Historical Context

In 2019, the UK introduced the Voluntary Scheme for Branded Medicines Pricing and Access, capping NHS drug spending and resulting in a 10% reduction in costs. This scheme has intensified tensions between pharmaceutical companies like Bristol Myers Squibb and Eli Lilly and the government, leading to nearly £2 billion in paused investments in 2023, potentially jeopardizing future pharmaceutical innovation in the UK.

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Bristol Myers Launches

Bristol Myers Squibb plans to launch Cobenfy in the UK at $1,850 monthly, matching U.S. pricing amid MFN pressure.
Eli Lilly's Dave Ricks calls the UK 'the worst country in Europe' for drug prices, warning strict pricing could deter new medicines and investments.
Nearly £2 billion in UK investments have been paused or canceled this year amid tough market conditions.

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