BIG PHARMA EARNINGS WATCH: PFIZER, ABBVIE, SANOFI, ELI LILLY

Big Pharma Giants Beat Wall Street Expectations After Year of Price Increases, Pfizer’s Bourla Pressed on “Sheer Magnitude” of COVID-19 Vaccine Price Hike on Earnings Call

Big Pharma companies Pfizer, AbbVie, Sanofi, and Eli Lilly all topped Wall Street expectations in third quarter earnings reports this week — as all four companies continue to engage in egregious pricing and anti-competitive practices.

Pfizer CEO Albert Bourla, for instance, was pressed during the company’s earnings call by an analyst with Evercore ISI on the “sheer magnitude” of its recent COVID-19 vaccine price hike — that “is making a lot of investors ask questions around ESG implications, any political blowback, etc.”

Reuters reported in October that Pfizer plans to “as much as quadruple” the price of the company’s COVID-19 vaccine – to a price that represents a “10,000 percent markup over what experts have estimated it costs the vaccine makers to produce the shots” as payment for the vaccines shifts from the U.S. Government to the private market.

Get the facts on Big Pharma’s blockbuster third quarter earnings fueled by egregious pricing and anti-competitive practices:

Pfizer

AbbVie

Sanofi

Eli Lilly

These blockbuster earnings come after all four brand name drug makers continued to engage in price hikes this year. All four companies also have a history of engaging in egregious pricing practices and anti-competitive behavior.

Pfizer

AbbVie

Sanofi

Eli Lilly

Read more on Q3 earnings from Big Pharma giant Johnson & Johnson HERE.

Read more on Q3 earnings from Merck, Bristol Myers Squibb, and Novartis HERE.

Stay tuned as we continue to monitor earnings calls from Big Pharma for the third quarter of the year.

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

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