The Centers for Disease Control and Prevention said today that it plans to award more than $12 million this week to 23 states and the District of Columbia to support their efforts in tackling the opioid overdose epidemic. The funding comes from the fiscal year 2017 omnibus appropriations bill that became law in May. States […]
CDC chief propped up controversial anti-aging medicine in private practice
Before the newly-appointed CDC head Dr. Brenda Fitzgerald ran the public health department for the state of Georgia, she was a board-certified OB/GYN with a private practice. But according to a report from Forbes, she not only provided women’s healthcare in the 30 years she practiced medicine – she was also a fellow in “anti-aging medicine.” […]
NY Rep. Collins loses millions on Innate flop
Earlier this year, Rep. Chris Collins’ (R-NY) 16.8% stake in Innate Immunotherapeutics (ASX:IIL) was worth $45.5 million. But since the Australian biotech’s lead drug failed in a 93-patient trial this week, shares in the company dropped to 4¢ apiece and Collins’ holdings are now valued at just $1.5 million. As the company’s largest investor and […]
Mylan shareholders vote against executive pay package, but re-elect board
At the company’s annual meeting, Mylan (NSDQ:MYL) shareholders re-elected the drugmaker’s board despite a campaign spearheaded by major investors to do otherwise. The campaign hoped to encourage shareholders to vote down most of the board’s directors in response to Mylan’s drug pricing practices for its EpiPen device. The influential proxy advisory firm, ISS, also urged shareholders […]
Nevada law takes aim at insulin makers and their pricing strategies
Nevada passed a law last week instituting new reporting requirements for drug makers that manufacture insulin. Other states like New York and Maryland have also established requirements that pharmaceutical companies report price increases on certain drugs. The law, S.B. 539, mandates that the Nevada Dept. of Health & Human Services make a list of prescription […]
Senate drug price hearing turns into debate over healthcare reform
Members of the Senate Health, Education, Labor and Pensions committee gathered last week to discuss the rising costs of prescription drugs. But the hearing quickly morphed into a heated back-and-forth between senators over the Republican’s efforts to reform healthcare. Democratic senators, including Sens. Patty Murray (D-Wash.) and Chris Murphy (D-Conn.), used their time to criticize […]
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 […]
Mallinckrodt faces probe over price hikes for injectable pain-killer
Sen. Claire McCaskill (D-Mo.) penned a letter to Mallinckrodt Pharmaceuticals (NYSE:MNK) last week, probing for details about the company’s pricing strategies for its injectable pain-killer, Ofirmev. Mallinckrodt acquired Ofirmev in 2014, when it bought Cadence Pharmaceuticals in a $1.4 billion deal. In May of that year, Mallinckrodt hiked the pain-killer’s list price from $14.75 per vial to […]
FDA chief: Changing generics regulations could reel in drug prices
Part of the FDA commissioner’s job is to oversee the federal regulatory watchdog as it evaluates pharmaceuticals for safety and efficacy. Most FDA chiefs have avoided the topic of drug prices, given that it isn’t a clearly-stated part of the agency’s mission But just 2 weeks into the job, newly-confirmed FDA commish Dr. Scott Gottlieb proposed […]
UK watchdog accuses Merck of restricting biosimilar competition
Britain’s Competition and Markets Authority accused Merck‘s (NYSE:MRK) European unit, Merck Sharp & Dohme, of conducting an unfair discount scheme that it said was designed to restrict competition from biosimilar copies of the company’s drug, Remicade. Remicade is an antibody drug used to treat rheumatoid arthritis, ulcerative colitis and Chron’s disease. It was the 1st […]
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