Big Pharma Companies Beat Expectations After Hiking Prices on American
Patients, Tout Bullish Prospects for Egregious Pricing and Anti-Competitive
Business-as-Usual with Raised Forecasts





 



BIG PHARMA EARNINGS WATCH: GSK, MERCK, BRISTOL MYERS SQUIBB, ELI LILLY & GILEAD

Big Pharma Companies Beat Expectations After Hiking Prices on American
Patients, Tout Bullish Prospects for Egregious Pricing and Anti-Competitive
Business-as-Usual with Raised Forecasts



Several pharmaceutical giants including GSK, Merck, Bristol Myers Squibb, Eli
Lilly and Gilead recently reported earnings for the third quarter, with all
five beating Wall Street analysts’ expectations after increasing prices on more
than 100 drugs combined just this year alone.



Several of the company’s also raised their earnings forecast for the year,
following the strong quarterly results — thelatest
<[link removed]>
indication that Big Pharma is feeling bullish about maintaining its egregious
pricing and anti-competitive practices that fuel blockbuster profits, despite
rising bipartisan scrutiny.



Get a full recap of GSK, Merck, Bristol Myers Squibb, Eli Lilly and Gilead’s
strong earnings for the third quarter, and their price hikes and
anti-competitive strategies on top-selling brand name products, below.



GSK

* GSK reported third quarter earnings that beat Wall Street analysts’
expectations
<[link removed]>
.
* The company’s sales grew eight percent to $11.35 billion
<[link removed]>
in Q3.
* GSK’s specialty medicines division reported a sales increase of 16 percent
<[link removed]>
, including “double-digit growth in its respiratory, immunology and
inflammation segment, oncology and HIV.”
* The company raised its sales and earnings forecast
<[link removed]>
for 2025 after its specialty medicines business lifted sales in Q3.
Merck

* Merck reported third quarter earnings and revenue that beat Wall Street’s
expectations <[link removed]>.
* The company reported third-quarter revenue of $17.3 billion
<[link removed]>
, up from $16.6 billion in the same quarter last year.
* The strong earnings were driven
<[link removed]> by sales of
Merck’s blockbuster cancer drug Keytruda, which “topped $8 billion for the
first time in a quarter.”
Bristol Myers Squibb

* Bristol Myers Squibb also reported third quarter earnings that exceeded
Wall Street analysts’ expectations
<[link removed]>
.
* The company reported $12.22 billion
<[link removed]>
in revenue, beating expectations of $11.8 billion.
* Sales of the Big Pharma’ giant’s blockbuster cancer drug Opdivo rose seven
percent to$2.53 billion
<[link removed]>
.
* Sales of the company’s blood thinning drug Eliquis “jumped” 25 percent to
$3.75 billion
<[link removed]>
.
* Bristol Myers Squibb also raised its earnings for the quarter, now
expecting full-year earnings of$47.5 billion to $48 billion
<[link removed]>
.
Eli Lilly

* Eli Lilly reported strong earnings, “blow[ing] past Wall Street analyst
expectations
<[link removed]> for the
quarter.
* The pharmaceutical company reported revenue of $17.6 billion
<[link removed]>, compared
to expectations of $16 billion.
* The Big Pharma giant’s GLP-1 drug Mounjaro delivered revenue of $6.52
billion
<[link removed]>
, up 109 percent year over year, while Zepbound drove$3.59 billion
<[link removed]>
in revenue in the quarter, up 184 percent year over year.
* The company raised its full-year revenue guidance to between $63 billion to
$63.5 billion
<[link removed]>.
Gilead

* Gilead posted third quarter earnings that beat Wall Street analysts’
estimates
<[link removed]>
.
* The company reported $7.8 billion
<[link removed]>
in revenue, surpassing expectations of $7.4 billion.
* The Big Pharma giant’s HIV treatment Biktarvy brought in $3.69 billion
<[link removed]>
in sales in the quarter.
* The company also raised
<[link removed]>
its earnings and sales guidance for the year.
The strong earnings reports from these five Big Pharma giants follow
consistent patterns of hiking prices on blockbuster drugs across their
portfolios — often in tandem with strategies to undermine competition from more
affordable alternatives.



GSK

* GSK has raised prices on 37 drugs
<[link removed]> so far this year, including an
8.9 percent <[link removed]> 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
<[link removed]> and asthma drug Trelegy by
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]>.
Merck

* To date, Merck has increased the cost of 31 of their prescription drugs
<[link removed]> so far this year.
* Merck hiked prices on 21 prescription products
<[link removed]> in its portfolio in January
2024, including price hikes on 20 drugs outpacing the rate of inflation.
* Merck kicked off 2023 by raising prices on more than 20 prescription drugs
<[link removed]>, including blockbuster diabetes
medicines Januvia and Janumet by 4.9 percent each.
* In 2022, Merck raised prices on 22 prescription drugs
<[link removed]>.
Bristol Myers Squibb

* Bristol Myers Squibb has hiked prices of 17 prescription drugs
<[link removed]> so far this year, including
blood thinner drug Eliquis and cancer drug Opdivo bytwo percent
<[link removed]>.
* The Big Pharma giant kicked off 2024 by increasing prices on more than 10
prescription drugs <[link removed]>, including a
six percent increase on Eliquis.
* In 2023, the pharmaceutical giant kickstarted the year by raising prices on
10 prescription drugs <[link removed]>,
including blockbuster blood thinner Eliquis bysix percent
<[link removed]>.
* Bristol Myers Squibb began 2022 by hiking prices on nine
<[link removed]> prescription drugs, including
two key cancer drugs, Opdivo and Yervoy, as well as blockbuster blood thinner
drug Eliquis.
Eli Lilly

* Eli Lilly began 2025 by increasing prices on 13 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 byfive percent
<[link removed]>. Eli Lilly also hiked the price
of its best-selling oncology drug, Verzenio, by5.5 percent
<[link removed]>.
Gilead

* Gilead has hiked prices on 12 prescription drugs
<[link removed]> so far in 2025 at an average
rate of5.9 percent <[link removed]>.
* Gilead increased prices on at least 12 prescription drugs
<[link removed]> in 2024, including HIV drug
Biktarvy by4.9 percent <[link removed]>.
* Gilead raised prices on at least 12 prescription drugs
<[link removed]> in 2023, including HIV drug
Biktarvy by5.9 percent <[link removed]>.
Read more on expectation-beating third quarter earnings from Johnson & Johnson
HERE <[link removed]>.



And stay tuned as we continue to monitor third 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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