New Q4 Earnings Reports Underscore How Big Pharma’s Pandemic Price Hikes, Anti-Competitive Tactics Boost Profits Another round of fourth-quarter earnings reports from AbbVie, Sanofi, Bristol-Myers Squibb, and Novartis demonstrate that brand-name drug manufacturers continue to rake in blockbuster profits after hiking prices on multiple prescription drugs in their portfolios throughout the COVID-19 pandemic. All four […]
Big Pharma Sidesteps Industry’s Own Price Hikes and Egregious Practices in Latest Bid to Evade Accountability A recent Big Pharma study rehashes the tired tactic of blaming others in the supply chain for out-of-control prescription drug prices in a bid to evade accountability for the industry’s own egregious practices. The study, commissioned by the Pharmaceutical […]
J&J Surpasses Wall Street Expectations, Nearly Tripling Year-Over-Year Profits in Q4 After Hiking Prices on Dozens of Brand Name Drugs This week, Johnson & Johnson kicked off the first round of Big Pharma earnings reports for the fourth quarter of 2021. As has become standard procedure for the Big Pharma giant, the company bested Wall […]
CBO Finds Net Prices for Brand Name Drugs More Than Doubled from 2009-2018; HHS Finds More Than Five Million Beneficiaries Struggled to Afford Prescriptions in 2019 Two government reports released this week underscore the urgency for action to rein in out-of-control prescription drug prices by holding Big Pharma accountable. A report released Wednesday from the […]
Study Finds Just Six Percent of Drug Patents in Infringement Suits Were for Active Ingredients or New Molecules A new analysis published this week in Nature Biotechnology further reveals how the pharmaceutical industry’s abuse of the U.S. patent system prevents lower-cost alternatives from entering the market, limiting competition and driving increased spending for U.S. patients […]
Biogen Decision to Change Aduhelm Price After Public Outcry Demonstrates Big Pharma Prices Solely Designed to Maximize Profits During a recent interview at the J.P. Morgan Healthcare Conference, Biogen CEO Michel Vounatsos defended the Big Pharma’s company’s decision to price its unproven Alzheimer’s treatment at $56,000 per year, arguing that the price was “evidence-based” and […]
Brand Name Drug Companies’ Business-as-Usual Approach to Price Increases Highlights Urgency for Congress to Hold the Industry Accountable In case you missed it, Big Pharma has hiked prices on 588 prescription drugs in the first few days of 2022 – with more price increases on the way in the coming days and weeks. In the […]
Part I: Price-Gouging An Unproven Treatment, Setting Out-of-Control Launch Prices Despite unprecedented attention on the crisis of prescription drug affordability, Big Pharma maintained the industry’s profits-over-people approach in 2021. From repeatedly hiking drug prices, engaging in anti-competitive tactics to undermine competition, price-gouging patients and taxpayers for unproven treatments and pushing debunked innovation rhetoric to oppose […]
Part II: Pushing Debunked Innovation Rhetoric to Oppose Rx Solutions Despite unprecedented attention on the crisis of prescription drug affordability, Big Pharma maintained the industry’s profits-over-people approach in 2021. From repeatedly hiking drug prices, engaging in anti-competitive tactics to undermine competition, price-gouging patients and taxpayers for unproven treatments and pushing debunked innovation rhetoric to oppose […]
Part III: Big Pharma Maintains Price-Hiking, Patent-Gaming Business-As-Usual Despite unprecedented attention on the crisis of prescription drug affordability, Big Pharma maintained the industry’s profits-over-people approach in 2021. From repeatedly hiking drug prices, engaging in anti-competitive tactics to undermine competition, price-gouging patients and taxpayers for unproven treatments and pushing debunked innovation rhetoric to oppose drug pricing […]