BIG PHARMA EARNINGS WATCH: JOHNSON & JOHNSON Pharmaceutical Giant Beats Wall Street Expectations While Hiking Prices on Brand Name Drugs Last week, Johnson & Johnson reported earnings for the second quarter of the year that beat Wall Street analysts’ expectations after already hiking prescription drug prices 30 times just so far this year. Johnson & Johnson has consistently beat Wall Street analysts’ revenue expectations for years, including in 2019, 2020, 2021, 2022, 2023 and 2024 — while repeatedly hiking prices on brand name products and deploying anti-competitive tactics to undermine competition from more affordable alternatives. Get the full recap of Johnson & Johnson’s Q2 earnings here: Johnson & Johnson - Johnson & Johnson reported strong earnings that beat Wall Street analysts’ expectations for the second quarter in a row.
- The company raised its sales outlook for 2025 to the range of $93.2 billion to $93.6 billion, up from $91 billion to $91.42 billion.
- The Big Pharma giant saw sales of $23.74 billion, beating expectations of $22.84 billion.
- Johnson & Johnson’s medical device division saw $8.5 billion in sales, beating the consensus estimate.
- Darzalex, a multiple myeloma drug, brought in Q2 quarter sales of $3.38 billion.
Johnson & Johnson’s strong earnings follow a consistent record of hiking prices on brand name drugs and undermining competition in the market:
Johnson & Johnson
- Johnson & Johnson has hiked prices on 30 prescription drugs in 2025, including a 5.5 percent increase on multiple myeloma drug Darzalex and a 4.7 percent increase on psoriasis drug Stelara.
- Johnson & Johnson engaged in 35 price hikes in 2024, including a 6.3 percent increase on Darzalex, and five percent increases on Erleada and Stelara.
- According to a December 2024 ICER report, price hikes that were unsupported by new clinical evidence on multiple myeloma drug Darzalex led to additional consumer spending of $190 million.
- Johnson & Johnson also engaged in 36 price hikes in 2023, including a 4.5 percent increase on Darzalex, a five percent increases on Erleada and a four percent increase on Stelara.
- Spending on the company’s blockbuster cancer drug Imbruvica is expected to exceed $41 billion between 2027-2036 thanks to an anti-competitive patent scheme that extended a monopoly on the high-priced cancer drug by more than nine years. Imbruvica costs an eye-popping $180,000 per year.
Stay tuned as we continue to monitor second 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 accountable HERE. ### |
