Lilly voices doubt over HHS drug importation plan

Indianan firm Eli Lilly (NYSE: LLY) has expressed concerns over US Health Secretary Alex Azar’s  proposal to import drugs from overseas to prevent price hikes on products with limited competition.

US press reports Lilly chief executive David Ricks as saying “we think that is the wrong road to go down.”

While he said he agreed price hikes were a problem that needed to be solved, he said he disagreed with the suggested method, stating the US Food and Drug Administration should “fix the regulatory system,” adding it was “a regulatory failure from our perspective.”