Pair of Big Pharma Giants Beat Expectations After Hiking Prices on Nearly 50
Brand Name Drugs This Year





 



BIG PHARMA EARNINGS WATCH: ASTRAZENECA AND GSK

Pair of Big Pharma Giants Beat Expectations After Hiking Prices on Nearly 50
Brand Name Drugs This Year



This week, Big Pharma giants AstraZeneca and GSK reported second quarter
earnings that beat Wall Street analysts’ expectations. Combined, these
companies have hiked prices on nearly 50 of their blockbuster drugs this year.



During GSK’s earnings call
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, Emma Walmsley, CEO at GSK, stated, “We really want to prioritize keeping the
U.S. as the best market for innovation and also to deploy access to
innovation…so that medicines are sustainably affordable."



The problem is Big Pharma hides behind false innovation rhetoric to oppose
market-based solutions that would lower prescription drug prices to make them
more affordable for patients and more sustainable for the U.S. health care
system. Big Pharma’s innovation rhetoric is designed to keep drug prices high
and maintain the patent abuse status quo that enables big drug companies to
game the system to block competition from more affordable generics and
biosimilars.



Get the full recap of AstraZeneca and GSK’s second quarter earnings:



AstraZeneca

* AstraZeneca reported quarterly revenue expectations, beating Wall Street
analysts’ expectations
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.
* The Big Pharma giant affirmed its commitment to reaching $80 billion
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in annual revenue by 2030.
* AstraZeneca’s total revenue increased to $14.46 billion
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, boosted by its oncology and biopharmaceutical segments.
* The company’s cancer-medicine portfolio saw revenue of $6.3 billion
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, fueled by drugs Tagrisso and Imfinzi, while its biopharmaceuticals rose to
$5.6 billion
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.
GSK

* GSK reported second quarter earnings that beat Wall Street analysts’
expectations
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* The company brought in $10.67 billion
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revenue, driven by its HIV and oncology drugs.
* The Big Pharma company’s asthma drug Trelegy brought in $858 million
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in worldwide sales.
* GSK’s specialty medicines jumped 15 percent to $4.45 billion
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in Q2.
The strong earnings reports from these two Big Pharma giants follow their
consistent strategy of hiking prices on blockbuster drugs across each company’s
portfolios.



AstraZeneca

* AstraZeneca has hiked prices on 19
<[link removed]> prescription drugs so far in
2025, including diabetes drug Farxiga bythree percent
<[link removed]> and Lokelma by five percent
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* AstraZeneca increased prices on 17 prescription drugs
<[link removed]> to start off 2024, including
oncology drugs Tagrisso and Lynparza by three percent each.
* AstraZeneca hiked prices on at least 25 prescription drugs
<[link removed]> in 2023, including best-selling
oncology drugs Tagrisso by three percent and Lynparza by 6.8 percent.
GSK

* GSK has raised prices on 29 drugs
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8.9 percent increase on its Shingrix vaccine.
* Last year, GSK hiked prices on more than 25 prescription drugs
<[link removed]>, including its blockbuster
Shingrix vaccine product by7.9 percent
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three percent.
* In 2023, GSK hiked prices on more than 35 drugs
<[link removed]>, and in 2022, it increased
prices on over40 drugs <[link removed]>.
Stay tuned as we continue to monitor second quarter earnings calls from brand
name drug companies in the coming weeks.



Read more to learn about Big Pharma’s debunked false innovation rhetoric HERE
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.



Read more on Q2 earnings from Roche HERE
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Read more on Q2 earnings from Johnson & Johnson HERE
<[link removed]>.



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



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