BIG PHARMA EARNINGS WATCH: JOHNSON & JOHNSON

Johnson & Johnson Beats Wall Street Analysts’ Expectations Fueled by Price Hikes

Last week, brand name drug giant Johnson & Johnson reported earnings for the fourth quarter of the year. The company beat Wall Street analysts’ earnings expectations after hiking prescription drug prices 35 times last year. The Big Pharma giant’s profits were boosted by sales of its cancer treatments.

Johnson & Johnson

• Johnson & Johnson reported earnings that topped Wall Street analysts’ expectations, driven strong sales of its cancer treatments. The company expects 2025 sales between $90.9 billion to $91.7 billion.
• The Big Pharma giant brought in $22.52 billion in sales for the quarter, up 5.3 percent year over year and beating analyst expectations of $22.42 billion.
• The company’s drug division brought in $14.3 billion for the quarter, up 6.3 during the same period last year.
• Multiple myeloma drug Darzalex brought in $11.67 billion, a 20.9 percent increase in sales over the same period last year.  
• The company’s drug division brought in $14.3 billion for the quarter, up 6.3 during the same period last year.

The positive earnings report from the Big Pharma company follows continued price hikes on their blockbuster drugs, many above the rate of inflation.

Johnson & Johnson

• Johnson & Johnson has hiked prices on 17 prescription drugs so far in 2025, including Stelara by 4.7 percent and Erleada by 2.6 percent.
• Johnson & Johnson engaged in 35 price hikes in 2024, including a 6.3 percent increase on Darzalex, and five percent increases on Erleada and Stelara.
• According to a December 2024 ICER report, price hikes that were unsupported by new clinical evidence on multiple myeloma drug Darzalex led to additional consumer spending of $190 million.
• The Big Pharma manufacturer also hiked prices on nearly 30 prescription medications in 2022 – at an average rate of five percent.
• Johnson & Johnson also engaged in 36 price hikes in 2023, including a 4.5 percent increase on Darzalex, a five percent increases on Erleada and a 4 percent increase on Stelara.
• Spending on the company’s blockbuster cancer drug Imbruvica is expected to exceed $41 billion between 2027-2036 thanks to an anti-competitive patent scheme that extended a monopoly on the high-priced cancer drug by more than nine years. Imbruvica costs an eye-popping $180,000 per year.

Stay tuned as we continue to monitor fourth 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 accountable HERE.

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