Eli Lilly says it's cutting an average of 50% off list prices—and its price hikes don't work

Fierce Pharma ------ Heightened pressure from pharmacy benefit managers and increased competition among drugmakers are taking a big bite out of Eli Lilly's list-price hikes—an 11-percentage-point bite, on average, the company said in a new report. After raising list prices an average of 14% in 2016, and wheeling and dealing with payers, Eli Lilly netted an overall price increase of 2.4%, the company said in a new report. That's a major comedown from 2015, when a 16.3% average increase yielded a net rise of 9.4%. To get more in depth information click on the picture below to read the article.