Brand Name Drug Giant Beats Wall Street Expectations After Price Hikes on Treatments for Osteoporosis, Heart Conditions and Cancer
Yet another Big Pharma giant proved what we already know – that hiking prices on American patients continues to be a profitable practice for the pharmaceutical industry. On Thursday, brand name drug company Amgen announced it had topped Wall Street expectations on its earnings in the fourth quarter.
Amgen’s high earnings come after the company participated in a series of price hikes this past year, despite the mounting crisis of affordability across the country.
And Amgen shows no signs of slowing down. Already this year, the company has hiked the price of five drugs – including on popular drug Prolia – by an average of five percent.
Amgen is just the latest Big Pharma giant to continue the trend of banking big time profits after participating in a series of price hikes over the past year. Stay tuned for another round of Big Pharma quarterly earnings next week.