BIG PHARMA EARNINGS WATCH: NOVARTIS & ROCHE

Big Pharma Giants Continue Topping Wall Street Expectations Following Price Increases to Start the Year

This week, Big Pharma companies Novartis and Roche reported second quarter earnings that beat Wall Street analysts’ expectations, following price hikes from both companies across their portfolios to start the year. Both companies hiked prices on more than 25 prescription drugs so far this year.

During Novartis’ earnings call, an analyst questioned the timing of the company’s patent expiration on breast cancer drug, Kisqali. In response, Vas Narasimhan, CEO of Novartis, confirmed that Novartis has secured patent protection on the drug extending into Q3 2031, due to “settlements that we have,” pointing to how Big Pharma games the system to block competition from more affordable alternatives to brand name drugs.

Get a full recap on Novartis and Roche’s earnings below:

Novartis

• Novartis reported second quarter earnings that beat analysts’ expectations.
• Sales of the company’s breast cancer drug Kisqali rose to $1.7 billion.
• Sales of the company’s psoriasis drug Cosentyx grew 12 percent to $1.82 billion in the second quarter.
• Net sales for the second quarter were $14.41 billion, ahead of analysts forecast of $13.96 billion.

Roche

• Roche saw second quarter earnings that beat Wall Street analysts’ expectations.
• The Big Pharma giant’s operating profit rose 10 percent in the second quarter, beating analysts’ expectations.
• The company’s multiple sclerosis drug, Ocrevus, brought in $4.3 billion for the second quarter.

The strong earnings follow a number of price increases across the companies’ portfolios to start the year – and in year’s past.

Novartis

• In January 2026, Novartis hiked the price of 48 prescription drugs, including multiple sclerosis treatment Kesimpta by eight percent.
• In 2025, Novartis increased prices on 64 prescription drugs, including heart treatment Entresto by 2.5 percent and multiple sclerosis treatment Kesimpta by seven percent.
• Novartis increased prices on 68 prescription drugs in its portfolio in 2024, including arthritis treatment Cosentyx by four percent and heart treatment Entresto by three percent.
• In 2023, Novartis hiked prices on more than 72 prescription drugs in its portfolio, including Entresto by five percent and Kesimpta by seven percent.

Roche

• In January 2026, Roche hiked the price of 27 prescription drugs, including multiple sclerosis drug Ocrevus by 5.2 percent and asthma treatment Xolair by 5.5 percent.
• Roche increased prices on 32 prescription drugs in 2025, including multiple sclerosis drug Ocrevus by 4.7 percent, macular degeneration drug Vabysmo by 2.5 percent and asthma treatment Xolair by 3.1 percent.
• In 2024, the Big Pharma company increased prices on 31 prescription drugs.
• In 2023, Roche increased prices on at least 19 prescription drugs in its portfolio.
• A report released in late 2019 found that Roche’s price hikes on the popular rheumatoid arthritis drug Rituxan were not supported by innovation or improvements and cost U.S. taxpayers $806 million.

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

Read more on second quarter earnings from Johnson & Johnson HERE.

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