BIG PHARMA EARNINGS WATCH: ASTRAZENECA

Major Drug Company Surpasses Wall Street Forecasts as Price Hikes Fuel Growth

This past week, Big Pharma company AstraZeneca reported third quarter earnings that beat Wall Street expectations — continuing a trend among major drug manufacturers posting strong profits on the heels of continuing to hike prescription drug prices this year.

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 $15.19 billion, boosted by its oncology and biopharmaceutical segments.
• The company’s cancer-medicine portfolio saw revenue of $6.64 billion, fueled by blockbuster drugs Tagrisso and Imfinzi, which brought in $1.86 billion and $1.6 billion, respectively.

This strong earnings report underscores the company’s continued reliance on price hikes on its blockbuster drugs to drive revenue growth.

AstraZeneca

• AstraZeneca has hiked prices on 22 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.

Read more on expectation-beating third quarter earnings from Johnson & Johnson HERE.

Read more on GSK, Merck, Bristol Myers Squibb, Eli Lilly and Gilead’s third quarter earnings HERE.

Read more on third quarter earnings from AbbVie, Amgen and Pfizer HERE.

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