For far too long Big Pharma has used the excuse that research and development (R&D) costs justify out-of-control prescription drug prices and that solutions to lower prices threaten innovation into new breakthroughs. These tired arguments, which Big Pharma wields like a shield to protect the industry’s anti-competitive and price-hiking practices, simply don’t hold up to […]
House Oversight Lawmakers Commit to Bipartisan Action to Hold Big Pharma Accountable During Explosive Hearing on Out-of-Control Drug Prices During a hearing Tuesday before the U.S. House Committee on Oversight and Reform, the CEO of AbbVie, the manufacturer of the world’s best-selling drug Humira, was put squarely on the hot seat as lawmakers drilled down […]
AbbVie CEO Headed for Capitol Hill to Answer for Indefensible Anti-Competitive & Price-Hiking Tactics on World’s Best-Selling Drug On Tuesday, lawmakers in the U.S. House Committee on Oversight and Reform are set to question AbbVie CEO Richard Gonzalez on the Big Pharma company’s pricing and marketing tactics around blockbuster rheumatoid arthritis drug Humira. Humira has […]
Members of Congress in Both Parties Recognize Urgency for Solutions to Deliver Relief for American Patients During a pair of hearings this week in the U.S. House Energy & Commerce Committee Subcommittee on Health and House Education & Labor Committee Subcommittee on Health, Employment, Labor, and Pensions, lawmakers from both parties emphasized the urgent need […]
Drug Companies Top Wall Street Expectations; Pfizer Raises Guidance Based On Massive Taxpayer-Funded Vaccine Profits New first quarter earnings reports from Big Pharma giants Pfizer, AbbVie and AstraZeneca topped Wall Street analysts’ expectations. Pfizer, in particular, smashed forecasts and raised its profit guidance for the year. The company’s big time earnings were driven, in large […]
Brand Name Drug Makers Boosting Profits, Sales After Engaging In Pandemic Price Hikes Another round of first quarter earnings reports from brand name drug makers Sanofi, Merck, Bristol-Myers Squibb (BMS), Amgen, and GlaxoSmithKline (GSK) showcase how Big Pharma continues to bank expectation-beating profits and rising sales against a backdrop of continued price hikes — even […]
Study Finds Americans Face Much Higher Drug Prices Than Patients In Other Countries A new report from the U.S. Government Accountability Office (GAO) found that net prices for prescription drugs in the United States for 20 selected brand-name products were two to four times higher than the prices paid in Canada, Australia and France. The […]
Trio of Big Pharma Firms Bank Q1 Profits Driven By Price Hikes New first quarter earnings reports from brand name drug makers Novartis, Eli Lilly, and Roche demonstrate yet again that price-hikes and anti-competitive behavior continue to drive big time profits for Big Pharma companies. Novartis Net sales for the drug maker hit $12.4 billion […]
Drug Company Banks Expectation-Busting Profits for Q1 While Continuing to Hike Rx Prices During Pandemic Johnson & Johnson kicked off the first quarterly earnings season of the year for Big Pharma Tuesday by reporting sales and revenue beats driven by price-hiking and anti-competitive behavior on prescription drugs. Johnson & Johnson Johnson & Johnson beat Wall […]
Americans Need Relief from Big Pharma’s Out-of-Control Prescription Prices Morning Consult Lauren Aronson April 19, 2021 https://morningconsult.com/opinions/americans-need-relief-from-big-pharmas-out-of-control-prescription-prices/ Earlier this month, the principal trade group representing Big Pharma launched a new branding campaign touting drug companies’ role during the pandemic. While we can all be thankful for the vaccines and treatments that save lives and support a […]