Eli Lilly CEO says drugmaker will keep looking to cut insulin costs


An Eli Lilly & Co. logo is seen on a box of insulin medication in this arranged photograph at a pharmacy in Princeton, Illinois.

Daniel Acker | Bloomberg | Getty Images

Eli Lilly CEO David Ricks said he welcomes new competition from Walmart, even as the retailer undercuts the drugmaker’s prices on fast-acting insulin.

Walmart announced Tuesday that it will sell a lower-price version of the notoriously expensive diabetes drug, starting this week.

“Any efforts to smash through that and deliver better value to patients, I’m for,” Ricks said in an interview Tuesday on CNBC’s “Squawk on the Street.”

Walmart developed the less expensive version of analog insulin with Novo Nordisk. The fast-acting…


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