Eli Lilly pharma faces $18B loss in stock after a fake Twitter handle announced free insulin

Picture source - Yahoo

Pharmaceutical industry giant Eli Lilly has lost $18 Billion after a fake Twitter account with a verification tick announced the availability of free insulin.

A Twitter account with the name of Eli Lilly and Company on November 10 tweeted that we are excited to announce insulin is free now.

Two and a half hours later the legitimate Eli Lilly corporate account tweeted an apology stating those who have been served a deceptive message by a fraudulent Lilly account confirming that its true handle is @Lillypad.

The Twitter account had been taken down by Twitter but it cost the company $18 billion.

The tweet got 498 retweets within a few minutes of it being published whereas, it got 2,735 likes.

The fake Tweet that claimed to be from the pharmaceutical company Eli Lilly which was authenticated through Twitter Blue tick a brand new subscription service launched by Elon Musk cost the pharmaceutical company $18 billion.

This also led to the question that the new feature is leading to confusion and the spread of false information on the platform.


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