Monday’s business headlines

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INDIANAPOLIS (WISH) — Here’s a look at Monday’s business headlines.

Eli Lilly

California has a new law that requires advance notice of planned prices increases for prescription drugs.

The Los Angeles Times says most pharmaceutical companies are complying but Eli Lilly is not.

The law was controversial to being with and Elil Lilly has informed customers that it will not be providing such notices until an industry lawsuit challenging the law’s constitutionality is resolved in court. 

Ford

A Ford executive says rising steel and aluminum prices are a big drag on the company.

Bloomberg preorts that the comments were made by Jim Farley, Ford’s President of Global Markets.

The tariffs are driving up their costs but so far the company is not passing along the higher costs to its customers.

Papa John’s

Papa John’s said it would provide financial assistance to its U.S. franchisees through the remainder of the year. It will reduce franchisees’ royalty payments, food prices and online fees and also provide fund to help them with marketing and remodeling.

The Louisville based pizza chain says sales have been down about 10 percent since found John Schnatter used a racial slur in a conference call.

College debt

U.S. students may collective owe $2 trillion in loan debt by 2021.

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