Pharmaceutical Companies Continue Reporting Big Time Earnings While Continuing
to Hike Prices on Blockbuster Brand Name Drugs





 



BIG PHARMA EARNINGS WATCH: AMGEN AND ELI LILLY

Pharmaceutical Companies Continue Reporting Big Time Earnings While Continuing
to Hike Prices on Blockbuster Brand Name Drugs



Pharmaceutical giants Amgen and Eli Lilly recently reported first quarter
earnings, with each company reporting strong earnings that beat Wall Street
analysts’ expectations after hiking prices on their blockbuster drugs earlier
this year.



During the Eli Lilly earnings call, an analyst at Jefferies asked a question
regarding the company’s volume-over-price approach to GLP-1s. In response,
Lucas Montarce, Chief Financial Officer at Eli Lilly, said he believes the
price impressions are consistent with the trends that Eli Lilly has seen in the
last twelve months. The pharmaceutical company consistently hikes the prices of
its blockbuster drugs, especially their GLP-1 drug portfolio. This year alone,
Eli Lilly hiked prices on 11 prescription drugs, including their GLP-1 drug
Zepbound by 2.5 percent.



Get the full recap of Amgen and Eli Lilly’s strong earnings, fueled by price
hikes and anti-competitive tactics:



Amgen

* Amgen beat analysts’ estimates, bringing in $8.15 billion
<[link removed]>
in Q1.
* The company’s osteoporosis treatment Prolia rose 10 percent to $1.1 billion
<[link removed]>
for the quarter.
* The company’s cholesterol drug Repatha rose 27 percent to $656 million
<[link removed]>
.
* The Big Pharma giant’s rare disease drug Uplinza brought in $91 million
<[link removed]>
, a 14 percent rise.
Eli Lilly

* Eli Lilly saw first quarter earnings that beat Wall Street analysts’
expectations
<[link removed]>
.
* The pharmaceutical company reported overall sales of $12.73 billion
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.
* The Big Pharma giant’s GLP-1 drug, Zepbound, brought in $2.31 billion
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, and Mounjaro brought in$3.84 billion
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.
* Eli Lilly maintained its fiscal 2025 sales guidance of $58 billion to $61
billion <[link removed]>.
The substantial earnings reports from these three Big Pharma giants reflect
their ongoing history of raising prices on blockbuster drugs.



Amgen

* This year, Amgen has hiked prices for 23 prescription drugs
<[link removed]> by an average of five percent.
* Last year, Amgen raised prices on 36 prescription drugs
<[link removed]>, including a 6.9 percent
increase on osteoporosis treatment Prolia as well as five percent price
increases on autoimmune drugs Enbrel and Otezla.
* In 2023, Amgen raised prices on more than 20
<[link removed]> prescription drugs, including
on osteoporosis treatment Prolia and autoimmune drug Otezla by5.9 percent
<[link removed]> each.
Eli Lilly

* Eli Lilly began 2025 by increasing prices on 11 prescription drugs
<[link removed]>, including blockbuster GLP-1
drug Zepbound by2.5 percent <[link removed]>.
* Eli Lilly hiked prices on 10 prescription drugs
<[link removed]> in 2024, including oncology
drug Verzenio bysix percent <[link removed]>, as
well as blockbuster diabetes drugs Trulicity and Mounjaro byfive percent
<[link removed]> and 4.5 percent
<[link removed]>, respectively.
* Eli Lilly started 2023 by raising prices on 15 prescription drugs
<[link removed]>, including blockbuster diabetes
drugs Trulicity and Mounjaro, both by five percent. Eli Lilly also hiked the
price of its best-selling oncology drug Verzenio by5.5 percent
<[link removed]>.
Read more on Q1 earnings from Johnson & Johnson HERE
<[link removed]>.



Read more on Q1 earnings from AbbVie, Roche, Gilead, Merck and Bristol Myers
SquibbHERE
<[link removed]>
.



Read more on Q1 earnings from AstraZeneca and Novartis HERE
<[link removed]>.



Stay tuned as we continue to monitor first quarter earnings calls from brand
name drug companies in the coming weeks.



Learn more about solutions to lower prescription drug prices and hold Big
Pharma accountableHERE <[link removed]>.



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