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The United States of America: wrong entries and billions in losses. All by “The Blue Stamp”

The United States of America: wrong entries and billions in losses.  All by "The Blue Stamp"

Eli Lilly and Company is an American pharmaceutical company headquartered in Indianapolis. The company was founded in 1876, and in 1923 – as the first in the world – began production Insulin Widely.

It was the sale of this hormone that caused a storm in social media and surprised investors on the US stock exchange. Crisis broke out fake twitter accountWhich, however, is marked as “Verified”. How is this possible? This is the result of the recent decisions of the new owner of the platform.

“We are pleased to announce that It will be insulin free from now on– An entry with this content appeared on Thursday after 1pm EST. It was posted by an account tagged as “Eli Lilly and Company” With the company logo in the profile picture. Nick also looked authentic.

The fake message quickly gained popularity on the web. It has been passed hundreds of times. It also triggered a stock market reaction. Price per share Eli Lilly It’s down about $20 a dayfrom $366 to $345.

It is estimated that the company lost nearly $20 billion in market value.

The news was publicly available for several hours. The real company responded seven hours later by posting a message that read: “We apologize to those who were misled by Lily’s fake account.”

The question is why people, and thus the market, believed the wrong message so easily. One of the reasons was that the fake account was flagged as “Verified”.

These Twitter accounts have the icon next to their name Little bird – blue sealIt is in theory to help social media users choose content responsibly. It’s just that the new owner of the platform made changes to set a special designation.

Elon Muskwho took over Twitter at the end of October, decided that you’ll be able to get a “blue badge” on your account after purchasing the subscription cost Eight dollars a month. This is how Twitter users have been tricked.

On Friday, Lilly’s fake account was no longer marked as “verified” and entries were private. However, this was not the end of the matter and the consequences of the wrong entry.

According to the US trade newspaper “Investors Business Daily”, only nightly insulin products were sold in the third quarter of 2022. 878 million dollars. The fake Twitter message has not only infected the company, but also its main competitors.

Three companies: Lilly, Novo Nordisk and Sanofi It provides 100 percent of insulin in the US market and 90 percent in the world. Between Thursday and Friday, Novo Nordisk shares fell 3.5 percent and Sanofi fell 3.4 percent.

It is also not known who is behind the fake account. It is not known whether the entry was a joke, or whether it was a planned attack by other drug companies or activists who do not approve of the insulin fee, the use of which is necessary for some diabetics. In some cases, not getting insulin can lead to death.

Starting next year, Lilly will offer a program where you can get insulin for $35 a month. So far, the price of insulin in the United States has risen steadily until it reached the price 200-300 dollars per bottle Without health insurance.

On the occasion of the fake Twitter issue, a politician drew attention to the issue of insulin prices Bernie Sanderswho declares socialist views.

After Lilly apologized to those who had been misled, he wrote, “Let’s be clear. Lilly should apologize for raising the price of insulin by more than 1,200 percent from 1996 to $275, when it cost $10 to manufacture. Patented in 1923 for a dollar to save lives Not that Eli Lilly CEO was inappropriately rich“.

Sanders decided to answer Elon Musk, noting that the question of insulin price is complicated. He wrote that the original insulin cost $25 to produce, while “more effective variants” would be more expensive.

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