Eli Lilly CEO Slams PBM 'Rent Taking', Says They Drove Insulin List Prices To $275: 'We Can Disintermediate Them Easily' - CVS Health (NYSE:CVS), Cigna Group (NYSE:CI)

Dave Ricks, CEO of pharmaceutical giant Eli Lilly and Co. (NYSE:LLY), delivered a scathing critique of pharmacy benefit managers (PBMs), accusing the industry’s “middle actors” of “rent taking” and creating a “terrible incentive” structure that caused insulin list prices to skyrocket.Check out LLY’s stock price here.PBMs Kept Inflating Prices Despite LLY’s Low Net PriceSpeaking on the “Cheeky Pint” podcast, Ricks explained how list prices for Lilly’s insulin ballooned to $275, even as the company's actual n ...