Insulin prices have become a hot-button issue in the U.S. where no generics exist. Without insulin, some patients with diabetes would die. Lilly, Novo Nordisk (NVO) and Sanofi (SNY) supply 100% of the insulin used in the U.S. and 90% globally.
The LLY stock slide also extended to its rivals. Novo Nordisk shares fell 3.2% near 111.80. Sanofi stock lost 4%, trading near 42.60.
In the third quarter, alone, Lilly's insulin products generated more than $878 million in sales. Sales fell more than 20% year over year, however. Lilly noted its Humalog brand insulin underwent price cuts during the quarter. On its website, Lilly offers a program in which insulin will cost $35 per month.
Representatives of the company didn't immediately return a request for comment Friday morning. IndyStar reached out to Eli Lilly for comment. A spokesperson for the company said they "are aware of the fake account and in conversations with Twitter to address the matter."
Later Thursday night, another fake Eli Lilly account with verification and the company's logo tweeted "We apologize to those who were have been served a misleading message from a fake Lilly account about the cost of diabetic care. Humalog is now $400. We can do this whenever we want and there's nothing you can do about it. Suck it. Our official Twitter account is @LiIlyPadCo."
It is the latest instance of a verified account impersonating a brand on Twitter since the social media company launched its new verification system, which allows users to pay a monthly $8 fee. In the past several days, fake accounts have popped up impersonating President Joe Biden, Pope Francis, Nintendo and others.
Twitter owner Elon Musk laid off 50% of Twitter's employees last week. Other high-profile employees, including Twitter's head of moderation and safety Yoel Roth, resigned Thursday, according to the Washington Post.
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