Remembering Drug Companies Spend Their Profits on Shareholders and Marketing — And Price Hikes Are Unrelated to Innovation A recent Wall Street Journal article, “Big Pharma Quietly Pushes Back on Global Tax Deal, Citing Covid-19 Role,” notes brand name drug companies have been deploying the industry’s most favored argument against that proposal, that such a […]
Q2 Earnings Reports Continue to Show Pandemic Price Hikes Profitable for Brand Name Drug Makers Another round of second quarter earnings reports from brand name drug makers AstraZeneca, Sanofi, Merck, AbbVie, Eli Lilly and Amgen showcase yet again that price hikes and anti-competitive tactics continue to be hugely profitable for Big Pharma. All six drug […]
Big Pharma Companies Continue to Rake in Massive Profits After Three Rounds of Price Hikes During Pandemic Brand name drug makers Pfizer, Bristol Myers Squibb, and GlaxoSmithKline (GSK) held earnings calls this week for the second quarter of the year. Each of the earnings calls demonstrated pandemic price hikes continued to be profitable for the […]
New Round of Earnings Reports Show Big Pharma Companies Riding High on Massive Profits After Three Rounds of Price Hikes During Pandemic Brand name drug makers Johnson & Johnson, Novartis, and Roche kicked off another round of earnings reports from Big Pharma for the second quarter of the year this week. All three companies bested […]
Big Pharma Wants Implementation of Misguided Policy that Does Nothing to Lower Drug Prices, Increases Manufacturer Pricing Power Big Pharma is unhappy over the prospect of lawmakers repealing the misguided Rebate Rule. “Despite railing against high drug costs on the campaign trail, lawmakers are threatening to gut a rule that would provide patients meaningful relief […]
Lawmakers Showcase How Big Pharma’s Patent Abuse Drives Out-of-Control Prescription Drug Prices During a hearing Tuesday before the U.S. Senate Committee on the Judiciary’s Subcommittee on Competition Policy, Antitrust, and Consumer Rights, lawmakers on both sides of the aisle hammered Big Pharma for the industry’s anti-competitive and price-hiking practices. The hearing adds to the growing […]
U.S. Senate Judiciary Subcommittee Hearing Tuesday Will Build on Momentum for Lawmakers to Hold Big Pharma Accountable, Lower Prescription Drug Prices On Tuesday, the U.S. Senate Committee on the Judiciary’s Subcommittee on Competition Policy, Antitrust, and Consumer Rights is set to hold a hearing examining Big Pharma’s egregious anti-competitive practices that drive-up prescription drug prices. […]
Brand Name Drug Companies Stick to Business-as-Usual in Third Major Round of Pandemic Price Hikes In case you missed it, Big Pharma companies are actively engaged in price hikes on branded medications — the industry’s third major round of price increases during the pandemic. So far this month, Big Pharma has hiked prices on 52 […]
Coverage Highlights Backlash Over Massive Price Tag for Unproven Treatment, Cost to Taxpayers and Health System Earlier this month, after the U.S. Food and Drug Administration (FDA) approved brand name drug maker Biogen’s Alzheimer’s treatment aducanumab, brand name Aduhelm, despite serious questions about the medication’s clinical benefit for patients and zero votes in favor of […]
CEO Sidesteps Big Pharma’s Pricing Practices; Pushes Proposals That Would Boost Drug Company Profits and Incentivize Price Hikes During a recent interview on Bloomberg’s “Balance of Power,” Pfizer CEO Albert Bourla claimed the pharmaceutical industry is willing to be a helpful partner in reducing “significantly the cost of medicines.” What Bourla did not mention in […]