More Big Pharma Giants Surpass Wall Street Expectations, Buoyed By Egregious Price Hikes on Blockbuster Products to Start the Year Another round of first-quarter earnings reports from Merck, Sanofi, Bristol Myers Squibb, AbbVie and AstraZeneca demonstrate that Big Pharma continues to surpass Wall Street’s expectations. All five Big Pharma giants topped Wall Street analysts’ earnings […]
Big Pharma Spending Binge Underscores Bipartisan Support for List Price Transparency in Direct-to-Consumer Advertising In case you missed it, on Monday, a new report in Fierce Pharma found Big Pharma spent nearly $8.1 billion on direct-to-consumer (DTC) advertising pushing brand name prescription drugs in 2022. Top spenders on high-priced brand name products include: Sanofi and Regeneron’s Dupixent: […]
Congress Should Advance Bipartisan, Market-Based Measures to Increase Transparency to Shine a Light on Brand Name Drug Companies’ Egregious Price Hikes and Launch Prices Big Pharma companies are responsible for setting and increasing prices on the prescription drugs in their portfolio. Solutions that boost list price transparency can shine a light on the industry’s worst […]
Big Pharma Giant Kicks Off Q1 Earnings By Boasting “Strategic Price Increases Across All Franchises” Fueled Expectations Beat Last week, Johnson & Johnson kicked off the first round of Big Pharma earnings reports for the first quarter of 2023. After brand name drug companies hiked prices on nearly 600 prescription drugs to start the year, Big Pharma […]
ICER Analysis of Leqembi Finds $26,500 Price Tag Exceeds Drug’s “Cost Effectiveness” For Patients, Health Care System On Monday, the Institute for Clinical and Economic Review (ICER) released an analysis “assessing the comparative clinical effectiveness and value” of brand name drug maker Eisai’s treatment for Alzheimer’s disease, lecanemab, otherwise known by its brand name, Leqembi. The […]
Members of Congress Send Letter Encouraging USPTO to Close Loopholes Exploited by Big Pharma to Block Competition from More Affordable Alternatives In case you missed it, a bipartisan group of lawmakers sent a letter this week to Kathi Vidal, Director of the U.S. Patent and Trademark Office (USPTO), encouraging the agency to take additional action to crack […]
Senate HELP Committee Members Slam Moderna’s CEO for Instituting Nearly 500 Percent Price Increase on Company’s COVID-19 Vaccine On Wednesday, the U.S. Senate Committee on Health, Education, Labor and Pensions (HELP) held a hearing with Moderna’s CEO, Stéphane Bancel, titled “Taxpayers Paid Billions For It: So Why Would Moderna Consider Quadrupling the Price of the […]
Senate HELP Committee to Question Moderna CEO on Nearly 500 Percent Price Hike on COVID-19 Vaccine Developed with Taxpayer Investment As COVID-19 vaccine and therapeutic coverage shifts to the commercial market, Big Pharma is increasingly and brazenly trying to price-gouge the American people and health care system. Big Pharma’s price hikes on COVID-19 vaccines and […]
Big Pharma Giants With Affinity for Price Hikes Acquire Smaller Brand Name Drug Companies with Their Own History of Egregious Pricing Practices This week, two Big Pharma giants, both with a long track record of egregious pricing and anti-competitive practices, announced acquisitions of smaller companies with their own history of price-gouging behavior. On Monday, Pfizer announced plans to acquire drug maker Seagen, known for its pipeline of cancer medications, for $43 billion. As STAT News reported, the deal […]
Wall Street Journal Analysis Finds Median Monthly Price for Newly Approved Drugs Nearly Tripled in 10 Years, from $2,624 in 2011 to $7,034 in 2022 A new analysis released this week by The Wall Street Journal reveals the extent to which brand name drug makers are increasingly targeting higher launch prices for new products as a way […]