Eli Lilly CEO discusses drug development and cost effectiveness.

Eli Lilly CEO David Ricks has expressed concern that Medicare price negotiations, which aim to cut costs for older Americans, could harm drug development. Ricks is worried about the harm this will do to new cures and possibilities in medicine. He is the latest pharmaceutical executive to publicly blast the provision and law at large, which will likely reduce company profits. Ricks said the "biggest problem" with the provision stems from a difference in timeline for negotiating prices on small-molecule drugs versus biologic medicines.