Eli Lilly and Co (NYSE:LLY) has halted shipments of its Mounjaro diabetes and weight-loss drug to the UK ahead of a planned price hike next month.
Earlier this week the US drug giant warned against "inappropriate stockpiling of medicines", as customers rushed to buy the drug ahead of a planned 170% price rise, where the highest dose of the medicine will increase from £122 to £330.
The pharma company yesterday told its two British wholesalers to temporarily stop taking orders for the drug, which was developed as a diabetes treatment but also works to help with weight loss.
It said this was to manage its supply and ensure patients maintain access to the drug ahead of the hike in September, with allocations of the drug in place for pharmacy orders.
UK orders will resume at the start of September when the price is due to rise, following White House pressure to increase prices abroad and lower US drug costs.
Earlier this month, Lilly issued a statement advising that it planned to raise prices in European countries to "align" them with the costs paid "across developed countries".
The company said it had an agreement with the UK government to hike the price of Mounjaro "while maintaining access" for people with the disease.
President Donald Trump in May signed an executive order that linked the price paid for drugs in the US to the lowest price paid in other high-income countries, known as a "most favored nation" policy.
Lilly said that for prices to be reduced in the US, the amounts "paid by governments and health systems need to increase in other developed markets like Europe".