Big Pharma Earnings Watch: Abbvie

Brand Name Drug Giant Completes Sweep of Big Pharma Companies Who Beat Expectations After Hiking Prices

Earnings reports for the third quarter of the year provide the latest evidence that Big Pharma continues to bank record profits while price-gouging American patients. Today, brand name drug giant AbbVie announced better than expected earnings after a year of continued price hikes, completing a trend from all 12 of the world’s largest brand name drug makers.

AbbVie’s high earnings come after the company participated in a series of price hikes earlier this year, despite the mounting crisis of affordability for patients across the country.
This quarter all 12 of the world’s largest brand name drug makers – including Bristol-Myers Squibb, Sanofi, GlaxoKlineSmith, Amgen, Pfizer, Merck, AstraZeneca, Eli Lilly, Johnson & Johnson, Roche and Novartis –beat expectations after continuing to increase prices on struggling Americans.

Congress must act to hold these companies accountable and deliver much needed relief for American patients by passing bipartisan, market-based solutions.

Learn more on market-based measures to hold Big Pharma accountable and lower prescription drug prices with significant bipartisan support in Congress HERE.




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