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GREED WATCH: GSK Announces Over $9 Billion in Revenue Growth in Q3

By November 1, 2023No Comments

GSK announced it raked in more than $9 billion this quarter – an increase of over $3.5 million  over last year – during their earnings report today. While they make billions, Americans pay exorbitantly high prices for prescription drugs. GSK opposes the Biden administration reforms that lower prescription drug prices. 

  • During the call, CEO Emma Walmsley bragged about the company’s “strong and sustained performance momentum, with another quarter of double-digit sales and earnings growth.”. 
  • Drug companies charge Americans prices up to four times higher than prices in other countries, forcing patients to cut pills and skip doses to make ends meet. 
  • Over 80 percent of voters support giving Medicare the power to negotiate, making it the most popular provision in the Inflation Reduction Act. 

The Inflation Reduction Act brings down prescription drug costs for everyday Americans, especially seniors, by capping the price of insulin at $35 per month and providing free vaccines including shingles, giving Medicare the power to negotiate lower drug prices, and limiting the amount people have to pay each year for prescription drugs to $2,000 annually starting in 2025.  

Read more:

REPORT: Why Medicare Needs the Power to Negotiate for Lower Drug Costs: The Five Drugs That Tell the Story

FACT SHEET: Big Drug Companies Are in Court to Stop Medicare Negotiation and Protect Their Sky-High Profits