Major Drug Company Surpasses Wall Street Forecasts as Price Hikes Fuel Growth





 



BIG PHARMA EARNINGS WATCH: ASTRAZENECA

Major Drug Company Surpasses Wall Street Forecasts as Price Hikes Fuel Growth



This past week, Big Pharma company AstraZeneca reported third quarter earnings
that beat Wall Street expectations — continuing a trend among major drug
manufacturers posting strong profits on the heels of continuing to hike
prescription drug prices this year.



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 $15.19 billion
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, boosted by its oncology and biopharmaceutical segments.
* The company’s cancer-medicine portfolio saw revenue of $6.64 billion
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, fueled by blockbuster drugs Tagrisso and Imfinzi, which brought in$1.86
billion and $1.6 billion
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, respectively.
This strong earnings report underscores the company’s continued reliance on
price hikes on its blockbuster drugs to drive revenue growth.



AstraZeneca

* AstraZeneca has hiked prices on 22 prescription drugs
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diabetes drug Farxiga bythree percent
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* AstraZeneca increased prices on 17 prescription drugs
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oncology drugs Tagrisso and Lynparza by three percent each.
* AstraZeneca hiked prices on at least 25 prescription drugs
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oncology drugs Tagrisso by three percent and Lynparza by 6.8 percent.
Read more on expectation-beating third quarter earnings from Johnson & Johnson
HERE <[link removed]>.



Read more on GSK, Merck, Bristol Myers Squibb, Eli Lilly and Gilead’s third
quarter earningsHERE
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.



Read more on third quarter earnings from AbbVie, Amgen and Pfizer HERE
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Learn more about solutions to lower prescription drug prices and hold Big
Pharma accountableHERE <[link removed]>.



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