Brand Name Drug Company Sees Soaring Profits After Hiking Prices

Today, brand name drug giant Eli Lilly announced rising profits for the fourth quarter of 2020 – topping analysts’ expectations.

Over the past year the brand name giant has hiked prices on American patients, despite millions of Americans being unable to afford their prescriptions.
Eli Lilly is also one of three companies that control 99 percent of the insulin market. In 1996, a 10-milliliter vial of Humalog cost $21, but today, the same vial costs patients $275. And, according to a recent report from the Senate Finance Committee:

Follow along as we continue to monitor fourth quarter earnings announcements from brand name drug companies. Check out the key takeaways from Q4 earnings calls from Johnson & Johnson and Novartis HERE.

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