Big Pharma Giant Kicks Off Q4 Earnings After Hiking Prices More Than 40 Times in 2023

This past week, brand name drug giant Johnson & Johnson kicked off the first round of Big Pharma earnings calls for the fourth quarter of 2023. The company surpassed Wall Street analysts’ earnings and profit expectations after hiking prices more than 40 times last year. Full-year 2023 sales also beat consensus estimates as the world’s biggest maker of health care products posted a total yearly haul of $85.2 billion.

Johnson & Johnson

The strong earnings report comes as the Big Pharma giant has continued to price-gouge patients, with more than 30 price hikes in each of the last two years. According to reports from the Wall Street Journal, the company could continue its streak and raise prices across its portfolio of medicines later this month. Johnson & Johnson also has a history of engaging anti-competitive practices to block its blockbuster products from facing competition.

Johnson & Johnson

Stay tuned as we continue to monitor fourth quarter earnings calls from brand name drug companies in the weeks ahead.

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

Sign-up for updates

  • This field is for validation purposes and should be left unchanged.