Press Releases
Merck, BMS Rake in Billions as Big Pharma Continues Price-Gouging Campaign
WASHINGTON, DC — Today, pharmaceutical leaders Merck and Bristol Myers Squibb (BMS) each reported their Q3 2024 earnings, with results reaching $3.2 and $1.2 billion, respectively. Both companies manufacture drugs selected for the Biden-Harris administration’s historic Medicare price negotiation program and are actively pursuing legal action to halt the program’s implementation.
The billions in earnings big drug companies continue to report show they have no need to overcharge U.S. patients - but still do in pursuit of record profits. It’s a reminder that the stack of pharma lawsuits against the Biden-Harris administration’s drug negotiation program is only about one thing: maintaining their power to price-gouge seniors.”
Accountable.US Executive Director Tony Carrk
Yesterday, Bristol Myers Squibb joined AstraZeneca and Jassen to deliver opening arguments before the Third Circuit Court of Appeals for their case against Medicare negotiation, continuing the industry-wide campaign against the cost-reducing program.
Under the program, BMS’ Eliquis is priced at $231 per 30-day supply, equalling $290 in savings per prescription. Likewise, Merck’s diabetes medication, Januvia, costs only $113 for a 30-day supply, over $400 in savings per prescription.
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Today, pharmaceutical leaders Merck and Bristol Myers Squibb (BMS) each reported their Q3 2024 earnings, with results reaching $3.2 and $1.2 billion, respectively. Both companies manufacture drugs selected for the Biden-Harris administration’s historic Medicare price negotiation program and are actively pursuing legal action to halt the program’s implementation.
