CLAIM #36771 · Eli Lilly and Company (LLY) · 2023Q3 earnings call · Nov 2, 2023 · due Nov 2, 2024
“I think what you'll see is what you see normally for a product at this point in the lifecycle that as we pursue gaining access, there'll probably be some pricing pressure related to that. But we don't have any other coping card changes planned in the near future.”
Mike B Mason · President of Lilly Diabetes and Obesity
In context
“ng to pay for this, or is this broadly capped now until that saving card ends? And for next year, can you just give us your thoughts on if net price can meaningfully keep increasing? Thanks. Joe Fletcher: Thanks, Trung. Mike, do you want to make any comments around Mounjaro pricing? Michael Mason: Yeah, no, I'd be happy to do that. I think maybe at a macro level, I would say that our gross to net for Mounjaro in Q3, that kind of normalized. Before then we had a number of saving card changes that that, made our gross to net rate dynamic. Our last and copay card change occurred late in Q2, so at the end of June. And so Q3 was a kind of a pure quarter, where we didn't have any other copay card changes. And I would say that our Mounjaro rate normalized at that point, you know, going forward, I think what you'll see is what you see normally for a product at this point in the lifecycle that as we pursue gaining access, there'll probably be some pricing pressure related to that. But we don't have any other coping card changes planned in the near future. Joe Fletcher: Thanks, Mike. Paul, next question. Operator: The next question is coming from Robyn Karnauskas. From Truist Securities. Robyn, your line is live. Unidentified Analyst: Good morning. Thanks for taking our question. This is Nicole [indiscernible] on for Robyn. Going back to obesity, how are you thinking through the impact on Mounjaro if Ira [ph] stays and Wegovy and Ozembic prices decline in the 2026-20 27 time frame? Joe Fletcher: Thanks, Nicole for the question. I think it's very -- if I heard you right, you're thinking about IRA impacts to maybe semaglutide and potential impacts to Mounjaro. Mike, do you want to comment on that briefly? Michael Mason: Yeah, and I'll happy to do that, Obviously, it's too early to really impact how IRA will have an impact and the impact will”
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SEC filings for LLY ↗ · Claim quote is verbatim from the 2023Q3 earnings call.