High Priced Drugs Lead to Banner Q2 Earnings for Big Pharma

CSRxP released the following statement following a week of strong Q2 earnings across the branded pharma sector:

“While patients throughout the nation continue to suffer from the high price of prescription medicine, things couldn’t be better for the brand-name drug makers. Today concludes a great week for the brand-name drug monopolists who continue to post better than expected profits that surprised even Wall Street analysts.

“Following positive earnings from Eli Lilly and Biogen early in the week, Allergan, Celgene, Bristol-Myers Squibb, Merck, AbbVie, and AstraZeneca continued the profit parade. The problem is the price for patients but high prices mean profits and payouts for the corporations and their investors.

“As the pharma profiteers celebrate their success, it’s more essential than ever that the Administration and Congress continue to push forward meaningful measures that will reduce the high price of prescription drugs.”