Big Pharma Earnings Watch: Roche
Swiss Drug Company Repeatedly Hikes Prices as Sales Surge
New first quarter earnings released today from brand pharmaceutical company Roche showed higher than expected sales on blockbuster drugs for the first quarter of 2020.
- Sales for the Swiss drug giant’s pharmaceutical division jumped seven percent from last year and are expected to grow in the coming year.
- Key growth drivers for the company included multiple sclerosis drugs Ocrevus, hemophilia medication Hemlibra and cancer drugs Tecentriq and Perjeta.
As sales have climbed, Roche has repeatedly hiked prices on the products in its portfolio.
- In the first week of the year, Roche hiked prices on 11 drugs.
- The Swiss company was one of several companies to raise prices on dozens of drugs in July 2019.
- Blockbuster cancer drug Perjeta was named one of the top 25 drugs pushing costs up in Oregon.
- A report released earlier this month found that Roche’s price hikes on the popular drug Rituxan were not supported by innovation or improvements and cost U.S. taxpayers $806 million.
Stay tuned as we continue to monitor Q1 earnings announcements from brand name drug makers over the coming weeks.
