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U.S. policymakers should take note as biopharmaceutical companies pull back on investments in the U.K., Eli Lilly Chief Executive Officer Dave Ricks said in an interview with CNBC.

Lilly recently paused plans to create a biotech incubator called Gateway Labs in the U.K., joining other biopharma companies that have put investments in the country on hold amid concerns about drug pricing and other policies in the U.K. The country controls the price of branded medicines in a few ways, including by requiring companies to pay a rebate if the government spends more than expected on branded drugs. This year's rate of about 23% was higher than anticipated, prompting widespread pushback from the industry.

"The U.K

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