America gets tough on big business – for good reason

America leads on innovation and Europe on regulation, or so the conventional wisdom goes. But recently, the United States seems to have taken the lead in the latter, particularly in politically powerful industries such as technology, pharmaceuticals and finance.

Just last week, Eli Lilly, the producer of popular insulin medications Humalog and Humulin, pledged to

reduce its insulin list prices by 70 per cent

in an effort to make the medicine more affordable. The move was seen as a direct response to President Joe Biden’s policy pressure on Big Pharma.