Inside the GLP-1 Gold Rush: Eli Lilly CEO on New Breakthroughs, Addiction & Mental Health, Pricing

Overview

This episode features Eli Lilly CEO Dave Ricks discussing the groundbreaking impact of GLP-1 drugs on weight loss, their broader health implications, and the challenges of pricing, counterfeit markets, and biotech innovation. The conversation also delves into the future of pharmaceuticals, the role of AI in healthcare, and the systemic issues in the U.S. healthcare landscape.

Notable Quotes

- If we cut the price to $100, there will be no more new medicines in this category. – Dave Ricks, on balancing affordability and innovation.

- Sleep, eating healthy foods, movement, and social relationships—those are the things that really matter. – Dave Ricks, on his personal health philosophy.

- GLP-1s are helping with everything from smoking cessation to gambling addiction—it's a whole new frontier. – Dave Ricks, on the unexpected benefits of GLP-1 drugs.

💊 The Rise of GLP-1 Drugs

- Dave Ricks shared the 18-year journey of GLP-1 drugs, starting with a twice-daily injection for diabetes in 2006, evolving into the blockbuster drug Mounjaro.

- The drug class has become the best-selling in the world, generating $8.1 billion in Q2 2025 alone, with 20 million global users.

- Eli Lilly is developing an oral version of GLP-1 drugs, expected to launch next year, which could further expand accessibility.

🌍 Counterfeit Markets and Pricing Challenges

- Counterfeit GLP-1 drugs, particularly from China, are a growing issue. Dave Ricks noted that insurance gaps in the U.S. drive some consumers to gray markets.

- Eli Lilly has reduced out-of-pocket costs from $1,000 to $499 but faces pressure to lower prices further.

- Ricks emphasized the need to balance affordability with funding for R&D, which consumes 25% of sales ($14.2 billion in 2025).

🧠 Unexpected Benefits and Mental Health Applications

- GLP-1 drugs have shown surprising effects on smoking cessation, gambling, and even mental health conditions like bipolar disorder and depression.

- Eli Lilly is exploring new GLP-1 formulations with enhanced brain activity to target these conditions, with potential breakthroughs in 3-4 years.

- The drugs’ broad benefits, including reduced inflammation and metabolic improvements, suggest potential for preventative use in aging populations.

🔬 Biotech Innovation and Global Competition

- The biotech funding landscape has cratered, with venture capital investments dropping from $20 billion to $5 billion annually.

- Dave Ricks highlighted patent hacking by Chinese firms, where AI is used to create derivative drugs outside U.S. patent protections.

- Eli Lilly is investing heavily in organic R&D, supply chain expansion, and strategic acquisitions to maintain its innovation edge.

🏥 Systemic Issues in U.S. Healthcare

- Ricks criticized the inefficiency of pharmacy benefit managers (PBMs), calling for a shift to more transparent systems.

- He advocated for reforming the U.S. food system, linking processed foods and high-carb diets to the obesity epidemic.

- On AI in healthcare, Ricks sees tools like ChatGPT as empowering for patients, enabling deeper engagement with their health decisions.