Shareholder advisory firm ISS issued a report today urging its clients to vote against 10 of Mylan‘s (NSDQ:MYL) board members and executive pay packages, including chief executive Heather Bresch and chairman Robert Coury. The recommendation comes after a group of influential investors, including the New York City and State pension funds, encouraged other shareholders to vote […]
Auto-injectors
Report: Mylan may have overcharged US by $1.3B for EpiPen
Mylan (NSDQ:MYL) shares dipped slightly in mid-afternoon trading today after Sen. Chuck Grassley’s (R-Iowa) office released a Health and Human Services estimate claiming that taxpayers overpaid by as much as $1.27 billion for Mylan’s EpiPen device from 2006 to 2016. The charges stem from Mylan’s decision to classify the emergency allergy auto-injector as a generic, instead of […]
Mylan board faces pressure from pension funds
Investors, including the New York City and State pension funds and the California State Teacher’s Retirement System, are urging shareholders to vote against Mylan (NSDQ:MYL) chairman Robert Coury and 5 other board members at the company’s upcoming annual meeting. Coury was compensated with more than $97 million last year and some investors aren’t happy about it. […]
Bayer wins FDA nod for connected MS auto-injector
Bayer (ETR:BAYN) said yesterday that the FDA approved a supplemental biologics license application for the BetaConnect Navigator and myBetaApp – software for its electronic BetaConnect auto-injector. The company’s BetaConnect auto-injector administers Betaseron for patients with relapsing-remitting multiple sclerosis. The newly-approved software allows patients to connect their device with the myBetaApp on their mobile device or computer […]
Artificial pancreas: These companies are racing to make one
Medical device companies are close to achieving the holy grail of diabetes treatment: a combined glucose sensor, control algorithm and insulin infusion device that effectively acts as an “artificial pancreas.” We explain more in the newest video from editors at Drug Delivery Business’s sister publication Medical Design & Outsourcing. (And for a deeper dive, check out […]
Impax shares climb despite Q1 miss
Shares in Impax Laboratories (NSDQ:IPXL) rose earlier this week even though the pharmaceutical company missed expectations on Wall Street with its Q1 results. The Hayward, Calif.-based company posted profits of $7.7 million on sales of $184.4 million for the 3 months ended March 31, for bottom-line loss of -75% on sales loss of -18.2% compared with the same […]
Mylan beats Q1 earnings by a penny, misses on revenue
Shares in Mylan (NSDQ:MYL) rose 2% in pre-market activity today after the EpiPen maker beat earnings expectations on Wall Street with its 1st quarter results. The Canonsburg, Penn.-based company posted profits of $66.4 million, or 12¢ per share, on sales of $2.72 billion for the 3 months ended March 31, for bottom-line growth of 377.7% on sales growth […]
Pfizer collaborates to improve access to injectable contraceptive
Pfizer (NYSE:PFE) said yesterday that it inked a multi-year extension of its collaboration with the Bill & Melinda Gates Foundation and the Children’s Investment Fund Foundation to improve access to the company’s injectable contraceptive, Sayana Press, for women in developing countries. The pharma giant’s product uses Becton Dickinson‘s (NYSE:BDX) Uniject delivery system to administer a long-acting, […]
Sanofi levels antitrust suit against Mylan over EpiPen device
Sanofi (NYSE:SNY) reportedly sued Mylan (NSDQ:MYL) today, accusing the company of illegally suppressing competition to the EpiPen device. The lawsuit filed in a New Jersey federal court alleges that Mylan’s conduct has cost Sanofi hundreds of millions of dollars in sales for its rival allergy treatment, Auvi-Q. Canonsburg, Penn.-based Mylan has found itself at the center of […]
EpiPen purchasers level class action against Mylan over price hikes
Mylan (NSDQ:MYL) was hit with another class action lawsuit over the price of its EpiPen device yesterday. The lawsuit, which was filed in the Washington Western District Court, alleges that Mylan engaged in a scheme with pharmacy benefit managers to dominate the market and overcharge customers. Although the Canonsburg, Penn.-based company has been hit with several lawsuits […]