By Nicholas Hatcher
Eli Lilly Chief Executive David Ricks said manufacturing of certain drugs could come back to the U.S. if there is an economic incentive, such as lower tax rates for domestic production.
"We favor carrots not sticks and would really like to see the tax bill passed, which would make permanent low tax rates in the U.S.," Ricks said Thursday on CNBC. "Particularly as the president says, 15% for domestic production would be one of the best in the world."
"The threat of tariffs is already bringing back critical supply chains in two important industries: chips and pharma," Ricks said Thursday.
The drugmaker reported surging quarterly revenue Thursday, on steady sales of Mounjaro and other weight-loss treatments. Adjusted earnings topped analyst estimates.
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(END) Dow Jones Newswires
May 01, 2025 08:00 ET (12:00 GMT)
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