BIO CEO Says Prescription Drugs Are Not Too Expensive If you needed any more evidence that Big Pharma is tone deaf to the growing crisis of rising prescription drug prices, look no further than a Tuesday C-SPAN interview with BIO President and CEO Jim Greenwood. During the interview, on C-SPAN’s “Washington Journal” program, Greenwood answers […]
Applauds HHS For Appealing Ruling Against List Price Transparency Measure Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) issued a statement today after the U.S. Department of Health and Human services appealed a federal ruling blocking the implementation of a measure to require drug makers to disclose list prices in direct-to-consumer (DTC) advertising. […]
Analysis Finds PBMs Pass On Over 99 Percent of Rebates, Used to Keep Premiums Down A new report from the Government Accountability Office (GAO) undermines a common refrain in Big Pharma’s blame game targeting pharmacy benefit managers (PBMs) and rebates. In an effort to distract from their own price-gouging and anti-competitive behavior, Big Pharma frequently […]
Q2 Earnings: Big Pharma Keeps Living the Good Life While Evading Accountability Drug Makers Sweep Profit Forecasts as Industry Continues to Price-Gouge American Patients Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement Wednesday following earnings announcements from 12 of the world’s largest brand name drug manufacturers that showed all had […]
Four More Rx Giants Complete the Sweep, Beat Q2 Earnings Forecasts After Hiking Prices Over the past week, CSRxP has been tracking Q2 earnings for the biggest prescription drug manufacturers in the world. Yesterday, four more of these Big Pharma giants – Amgen, Eli Lilly, Merck and Pfizer – completed the sweep by reporting […]
Brand Name Drug Makers Continue to Surpass Q2 Forecasts After Hiking Prices Pharmaceutical giants AbbVie and Sanofi kept the good times rolling for Big Pharma on Friday and Monday, with both besting earnings forecasts and raising outlooks for the remainder of the year. AbbVie reported $8.2 billion in sales, beating estimates of $8.1 billion […]
Three More Drug Makers Top Earnings Expectations in Q2 Today three more price-gouging Big Pharma companies reported better-than-expected earnings in Q2 and raised forecasts for the rest of the year — after engaging in a frenzy of price hikes this year. Bristol-Myers Squibb reported revenues of $6.27 billion – 11 percent higher than predicted […]
Commends Bipartisan Collaboration on Several Market-Based Solutions, Cautions Committee Leaders Against Revival of Misguided Rebate Rule Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement Thursday commending members of the U.S. Senate Committee on Finance for advancing a drug pricing package that contains a number of measures that will hold Big […]
Big Pharma Giants Now Three for Three Besting Forecasts After Hiking Prices More Big Pharma giants are reporting earnings this week for the second quarter of 2019. Today GlaxoSmithKline (GSK), one of the five largest drug manufacturers in the world, reported that revenue rose five percent in Q2, beating profit expectations. Sales were about […]
Looks Forward to Working With Senate Finance Members to Hold Big Pharma Accountable Washington, D.C. – The Campaign for Sustainable Rx Pricing (CSRxP) released a statement Tuesday commending Chairman Chuck Grassley (R-IA) and Ranking Member Ron Wyden (D-OR) for moving ahead with a U.S. Senate Committee on Finance package to lower prescription drug prices. On […]