Chairman of the House Oversight Committee Rep. Elijah Cummings (D-MD) launched an investigation today into the drug pricing practices of 12 pharmaceutical companies. A number of companies named in the investigation saw their stock prices fall, including Amgen (NSDQ:AMGN), AbbVie (NYSE:ABBV), AstraZeneca (NYSE:AZN), Eli Lilly (NYSE:LLY) and Novo Nordisk (NYSE:NVO). A hearing is reportedly set for Jan. 29 and will […]
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Amneal wins FDA nod for generic rivastigmine transdermal patch
Amneal Pharmaceuticals (NYSE:AMRX) said today that it won FDA approval for a generic rivastigmine transdermal patch. The drug, which is sold under the brand name Exelon, is an acetylcholinesterase inhibitor that is commonly used to treat mild to moderate Alzheimer’s disease and Parkinson’s disease. The Exelon patch reeled in roughly $225 million in U.S. sales […]
Valeritas’ V-Go nabs preferred status on OptumRx formularies
Valeritas (NSDQ:VLRX) said today that its wearable insulin delivery device, V-Go, won preferred status on the OptumRx formulary. The Bridgewater, N.J.-based company’s device is designed for people with Type 2 diabetes. The V-Go product is worn like a patch and delivers a preset basal rate of insulin over the course of 24 hours. The device can […]
Ocular Therapeutix seeks second indication for drug-delivery eye insert
Ocular Therapeutix (NSDQ:OCUL) said yesterday that it submitted a supplement NDA to the FDA for its dexamethasone ocular insert, Dextenza. The Bedford, Mass.-based company requested that the U.S. regulatory agency expand the current indication for Dextenza to include the treatment of ocular inflammation following eye surgery. Dextenza is designed to deliver drugs for up to 30 […]
Reva brings bioresorbable scaffolds to new markets
Reva Medical (ASX:RVA) said this week that it inked four new distribution agreements, bringing its commercial operations to seven European countries. The San Diego, Calif.-based company said the deals serve to expand the reach of its drug-eluting bioresorbable scaffold, Fantom Encore. Reva said it landed deals with the following companies: A care a.s. in the Czech […]
Amgen touts lowered prices for Repatha delivery devices
Amgen (NSDQ:AMGN) said today that it lowered the list prices of the drug-delivery devices for its cholesterol drug, Repatha, to $5,850 per year. The Thousand Oaks, Calif.-based company touted the 60% discount as a way to boost patient affordability and accessibility. The Repatha SureClick autoinjector, which Amgen said is the most commonly used delivery device for […]
ResMed closes $225m Propeller Health purchase
ResMed (NYSE:RMD) said yesterday that it completed its $225 million acquisition of Propeller Health and its digital medicine platform. Lead by CEO David Van Sickle, Propeller will continue to operate as a standalone business within ResMed’s respiratory care portfolio, the companies reported. ResMed first announced the deal in December, explaining that Propeller’s products for people with […]
Vital Therapies pulls the trigger on Immunic share swap
Vital Therapies (NSDQ:VTL) said today that it inked a deal to swap shares with Germany-based Immunic, transitioning its efforts to focus on Immunic’s pipeline of drugs for chronic inflammatory and autoimmune diseases. Once the deal is closed, Vital Therapies plans to operate under the name Immunic and trade on the Nasdaq market. A group of investors, […]
Bigfoot Biomedical inks insulin deal with Eli Lilly
Bigfoot Biomedical said today that it inked a non-exclusive deal with Eli Lilly (NYSE:LLY) to integrate Eli Lilly’s insulin products into Bigfoot’s investigational insulin delivery devices. The California-based company expects to launch its first two insulin delivery systems – Bigfoot Inject and Bigfoot Loop – in 2020, contingent upon finishing a pivotal trial and landing regulatory […]
Dexcom Q4 prelims top consensus | Wall Street Beat
Dexcom (NSDQ:DXCM) topped estimates on Wall Street today with preliminary results for its fourth-quarter financial results. The San Diego, Calif.-based company said it expects to report $331 million in sales for the quarter ended Dec. 31 – up at least 50% from the same period last year. For the full year of 2018, Dexcom is slated […]
