By Peter Loftus
The head of drugmaker Eli Lilly, which sells the popular weight-loss drug Zepbound, urged the Trump administration to ease up on its tariff rollout because it could hurt Lilly's business and the broader pharmaceutical industry.
"We don't believe tariffs are the right mechanism" to bolster U.S. drug manufacturing, Lilly Chief Executive David Ricks said on a conference call with analysts Thursday. The company reported higher than expected first-quarter sales and profits. Instead, Ricks said tax incentives and extending Trump's 2017 tax cuts would help.
"The announced tariffs currently in effect do not materially change Lilly's 2025 financial outlook," he said. "However, the expansion of tariffs in other geographies or increases in retaliatory tariffs would have a negative effect on Lilly and for our industry."
Ricks, who has met personally with Trump, called on the administration to negotiate deals with key trading partners as soon as possible, to "level the playing field for American exporters like Lilly, and remove harmful tariffs and non-tariff market access barriers."
This item is part of a Wall Street Journal live coverage event. The full stream can be found by searching P/WSJL (WSJ Live Coverage).
(END) Dow Jones Newswires
May 01, 2025 11:33 ET (15:33 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。