Eli Lilly’s Stock Dives After Fake Account Promises Free Insulin

PARIS, FRANCE - APRIL 26: In this photo illustration, the Elon Musk’s Twitter account is displayed on the screen of an iPhone on April 26, 2022 in Paris, France. The U.S. multi-billionaire Elon Musk bought the social network Twitter on Monday April 25 for the sum of 44 billion dollars after two weeks of arm wrestling with the company's board of directors. (Photo illustration by Chesnot/Getty Images)

At a glance

  • Pharmaceutical giant Eli Lilly’s stock nosedived Thursday after a fake Twitter account claimed “insulin is free now.”
  • The problem stemmed from Elon Musk’s new pay-for-play verification system. As of Friday, the fake account no longer was verified.
  • Lilly’s stock fell nearly 5%. “We apologize to those who have been served a misleading message from a fake Lilly account,” the company said from its official account.

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