Axios: “Nine of the 10 biggest profit margins recorded as of July 31 belonged to drug companies”

Salon: “Pharma CEOs privately scoff at Trump’s drug pricing orders: ‘Not expecting any impact’”

Washington, DC – Today, following recent earnings reports by major drug companies AstraZeneca, Eli Lilly, Gilead Sciences, Emergent Biosolutions, Pfizer, Sanofi, Moderna, and Regeneron, Patients Over Pharma released the following statement and research highlighting how drug companies continue raking in cash and sending billions of dollars to their shareholders and top executives. This comes as taxpayers are pouring billions of dollars into drug company coffers without any clear assurances that vaccines or treatments will be affordable and accessible by every American.

“Drug companies and their lobbyists have been writing big checks recently with their rhetoric about investing in ‘innovation’ and ‘lifesaving cures’ but these earnings reports show that those checks are mostly being cashed by their shareholders and executives,” said Eli Zupnick, spokesman for Patients Over Pharma. “This is another clear reminder that President Trump has done absolutely nothing to take on the pharmaceutical industry and reduce the price of prescription drugs, which the drug company CEOs even noted on their earnings calls.”

How the drug company earnings are playing: 

  • CNN: “Moderna already got $400 million for a Covid vaccine that isn’t available.”
  • Boston Business Journal: “Moderna confirms its Covid-19 vaccine could be industry’s most expensive.”
  • CNBC: “Moderna’s second-quarter revenue jumps fivefold on coronavirus vaccine development.”
  • MarketWatch: “AstraZeneca vaccine trials underway, profit soars.”
  • Reuters: “Sanofi lifts earnings view as Regeneron stake sale boosts Q2.”
  •  WSJ: “Pfizer Beats Forecasts as Vaccine Trial Enters Final Stage.”
  •  Barron’s: “Regeneron Stock Climbs as Earnings Come in Strong.”
2020 Q2 By the Numbers: