Wednesday’s business headlines
INDIANAPOLIS (WISH) — Here’s a look at Wednesday’s business headlines with Jane King.
Lilly settles longtime insulin lawsuit
Indianapolis-based Lilly has agreed to pay $13.5 million to end a six-year, class-action lawsuit that alleged the company overpriced its insulin, according to court documents filed Friday in federal court.
As part of the settlement, Lilly has agreed to cap out-of-pocket costs for its insulin at $35 per month for four years.
The deal comes three months after the company said it would slash the price of the Type 1 diabetes treatment to the same level.
Twitter worth 33% of what Musk paid for it
Twitter is now worth just one-third of what Elon Musk paid for it.
Fidelity says that would make Twitter worth a little over $14 billion.
Musk previously acknowledged that he overpaid for the social media platform.
Senator wants all apps to disclose country of origin
Republican senators, led by Sen. Tim Scott of South Carolina, introduced legislation to require app stores to list apps’ country of origin.
The Know Your App Act aims to increase consumer awareness of the ownership of apps by requiring stores like Google Play and the Apple App Store to identify each application’s country or origin.
The bill comes as lawmakers from both parties target apps made or backed by Chinese companies.
Analysts: Stellantis stock would rise with Chrysler name
The company once known as Chrysler is now called Stellantis.
However, Barron’s financial magazine says the automaker’s stock would go up if its name would revert to Chrysler.
GM and Ford trade at a higher premium, even though Stellantis is growing.
NBA Finals ticket prices start at $449
The Denver Nuggets are in the NBA Finals for the first time in the franchise’s 47-year history after beating the Los Angeles Lakers.
The Nuggets will take on the Miami Heat for the NBA championship.
The lowest price Jane could find online for 2023 NBA Finals tickets was $449, before fees, on Vivid Seats for a game at Miami’s Kaseya Center. Prices start at $569 before fees for games at Denver’s Ball Arena.