Despite growing pressure from lawmakers over the pharmaceutical industry’s pricey products, new research shows that pharma relied largely on price hikes for growth in 2016.
A 120-page report from Credit Suisse demonstrated that net price growth made up 100% of net income growth for a variety of companies within the industry, including Biogen (NSDQ:BIIB), Eli Lilly (NYSE:LLY) and Allergan (NYSE:AGN). The report found that net price hikes in the U.S. brought in $8.7 billion in net income for industry leaders – 100% of the sector’s earnings growth.
“Arguably, this is the most important issue for a Pharma investor today,” the report said, according to Business Insider.
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