BIG PHARMA EARNINGS WATCH: ASTRAZENECA AND GSK

Pair of Big Pharma Giants Beat Expectations After Hiking Prices on Nearly 50 Brand Name Drugs This Year

This week, Big Pharma giants AstraZeneca and GSK reported second quarter earnings that beat Wall Street analysts’ expectations. Combined, these companies have hiked prices on nearly 50 of their blockbuster drugs this year.

During GSK’s earnings call, Emma Walmsley, CEO at GSK, stated, “We really want to prioritize keeping the U.S. as the best market for innovation and also to deploy access to innovation…so that medicines are sustainably affordable.”

The problem is Big Pharma hides behind false innovation rhetoric to oppose market-based solutions that would lower prescription drug prices to make them more affordable for patients and more sustainable for the U.S. health care system. Big Pharma’s innovation rhetoric is designed to keep drug prices high and maintain the patent abuse status quo that enables big drug companies to game the system to block competition from more affordable generics and biosimilars.

Get the full recap of AstraZeneca and GSK’s second quarter earnings:

AstraZeneca

• AstraZeneca reported quarterly revenue expectations, beating Wall Street analysts’ expectations.  
• The Big Pharma giant affirmed its commitment to reaching $80 billion in annual revenue by 2030.
• AstraZeneca’s total revenue increased to $14.46 billion, boosted by its oncology and biopharmaceutical segments.
• The company’s cancer-medicine portfolio saw revenue of $6.3 billion, fueled by drugs Tagrisso and Imfinzi, while its biopharmaceuticals rose to $5.6 billion.

GSK

• GSK reported second quarter earnings that beat Wall Street analysts’ expectations.
• The company brought in $10.67 billion in revenue, driven by its HIV and oncology drugs.
• The Big Pharma company’s asthma drug Trelegy brought in $858 million in worldwide sales.
• GSK’s specialty medicines jumped 15 percent to $4.45 billion in Q2.

The strong earnings reports from these two Big Pharma giants follow their consistent strategy of hiking prices on blockbuster drugs across each company’s portfolios. 

AstraZeneca

• AstraZeneca has hiked prices on 19 prescription drugs so far in 2025, including diabetes drug Farxiga by three percent and Lokelma by five percent.
• AstraZeneca increased prices on 17 prescription drugs to start off 2024, including oncology drugs Tagrisso and Lynparza by three percent each.
• AstraZeneca hiked prices on at least 25 prescription drugs in 2023, including best-selling oncology drugs Tagrisso by three percent and Lynparza by 6.8 percent.

GSK

• GSK has raised prices on 29 drugs so far this year, including an 8.9 percent increase on its Shingrix vaccine.
• Last year, GSK hiked prices on more than 25 prescription drugs, including its blockbuster Shingrix vaccine product by 7.9 percent and asthma drug Trelegy by three percent.
• In 2023, GSK hiked prices on more than 35 drugs, and in 2022, it increased prices on over 40 drugs.

Stay tuned as we continue to monitor second quarter earnings calls from brand name drug companies in the coming weeks.

Read more to learn about Big Pharma’s debunked false innovation rhetoric HERE.

Read more on Q2 earnings from Roche HERE.

Read more on Q2 earnings from Johnson & Johnson HERE.

Learn more about solutions to lower prescription drug prices and hold Big Pharma accountable HERE.