Sanofi (NYSE:SNY) and Verily Life Sciences, the healthcare play owned by Google parent Alphabet (NSDQ:GOOGL), are launching a joint venture to tackle diabetes. The Cambridge, Mass.-based Onduo JV will aim to combine Verily’s expertise in miniaturized electronics, analytics, and consumer software with Sanofi’s diabetes program. Dr. Joshua Riff, formerly senior vice president of prevention & wellbeing at UnitedHealth‘s (NYSE:UNH) Optum business, was tapped to be […]
Wall Street Beat
Senate panel to investigate Mylan’s EpiPen pricing
The U.S. Senate’s investigations panel is reportedly launching a “preliminary inquiry” into Mylan’s (NSDQ:MYL) pricing of the EpiPen epinephrine auto-injector. Mylan came under fire in recent weeks for raising the price of EpiPens nearly 500%, from $100 in 2008 to more than $500 this year, despite stable manufacturing costs. In late August, Sens. Amy Klobuchar […]
Unilife: Ex-CEO Shortall’s shenanigans exposed ‘material weaknesses’
Shares in Unilife (NSDQ:UNIS) are off 7% this week after the company said its investigation into former CEO Alan Shortall turned up “material weaknesses” in its bookkeeping procedures that will require it to restate some of its financials. Shortall, who left the company in March along with COO Ramin Mojdeh, was elevated to chairman in 2013. In May, […]
Mylan cuts EpiPen price in half after criticism
By Sarah Faulkner Mylan (NSDQ:MYL) said today that it would reduce the out-of-pocket patient cost for its EpiPen product, after being widely criticized for raising the price nearly 500% since 2009. Although the list price for the epinephrine injector remains the same, Mylan said it would increase eligibility for its patient assistance program, which eliminates out-of-pocket costs for uninsured […]
Sirtex Medical jumps on surging sales, profits for fiscal 2016
By Sarah Faulkner Shares in Sirtex Medical (ASX:SRX) closed up nearly 12% today after the Australian medical device company posted huge boosts to both the bottom and top lines. Sydney-based Sirtex Medical makes targeted liver cancer therapies using resin microspheres called SIR-sphere Y-90. Sirtex said profits were $40.8 million (A$53.6 million), or 70¢ (A92.2¢) per share, on sales of […]
Senators press Mylan on EpiPen price hike
By Sarah Faulkner UPDATED August 24, 2016, with comment from Hilary Clinton. Sens. Amy Klobuchar (D-Minn.) and Charles Grassley (R-Iowa) are pressing Mylan (NSDQ:MYL) for information on its 400% price increase for the EpiPen epinephrine auto-injector, which went from $100 in 2008 to more than $500 despite stable manufacturing costs. The pressure comes amid a nationwide […]
