Lilly, BioNTech Warn German Health Reforms Could Hurt Investment

Eli Lilly & Co. and BioNTech SE joined a growing chorus of drugmakers warning that proposed healthcare reforms in Germany risk undermining investment the country.

US-based Lilly plans to halve the remaining scope of a $2.5 billion investment in a German production facility, eliminating a “substantial portion” of the 1,000 high-quality jobs and remaining $1.5 billion in its spending plan, it said Wednesday in a statement.

BioNTech, Germany’s largest biotech firm, will pin future investments in the country partly on whether policymakers can create an attractive framework for pharmaceutical companies, Chief Commercial Officer Annemarie Hanekamp said in an interview.

Drugmakers ...