Big Pharma Giant Kicks Off Q1 Earnings After Hiking Prices More Than 40 Times in 2023

This week, brand name drug giant Johnson & Johnson kicked off the first round of Big Pharma earnings calls for the first quarter of 2024. The company surpassed Wall Street analysts’ earnings expectations after hiking prescription drug prices more than 40 times last year. The Big Pharma giant’s first quarter profit beat consensus estimates, and the company estimated 2024 sales will top $88 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 two consecutive years leading up to 2024. Johnson & Johnson also has a history of engaging in anti-competitive practices to block its blockbuster products from facing competition, such as the company’s settlement with fellow drug maker Amgen to delay the entry of biosimilar competition to its blockbuster cancer drug Stelara until at least 2025.

Johnson & Johnson


Stay tuned as we continue to monitor first 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.