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Capitol Hill

House Dems launch MS drug pricing probe

August 17, 2017 By Sarah Faulkner

capitol hill

Democrats from the House Committee on Oversight and Government Reform have sent letters to seven drugmakers as part of an investigation into why prices for multiple sclerosis drugs have nearly quadrupled since 2004. Reps. Elijah Cummings (D-Md.) and Peter Welch (D.-Mass) penned inquiries to Bayer (ETR:BAYN), Biogen (NSDQ:BIIB), EMD Serono, Novartis (NYSE:NVS), Roche (OTC:RHHBY), Sanofi Aventis (NYSE:SNY) and Teva Pharmaceuticals (NYSE:TEVA). […]

Filed Under: Featured, Legal News, Pharmaceuticals, Wall Street Beat Tagged With: Bayer AG, Biogen Idec, Capitol Hill, Novartis, Roche, Sanofi-Aventis, Teva Pharmaceuticals

Update: Industry panels disintegrate in wake of Trump remarks

August 16, 2017 By Sarah Faulkner

capitol hill

A pair of industry panels convened by President Donald Trump disintegrated today in the wake of his latest comments on the racist violence in Charlottesville. After Merck (NYSE:MRK) CEO Kenneth Frazier announced on Monday that he planned to leave Trump’s manufacturing advisory panel, a wave of executives followed in his path. Today, reversing from a statement […]

Filed Under: Featured, Pharmaceuticals, Policy, Wall Street Beat Tagged With: Capitol Hill, johnsonandjohnson, Medtronic, Merck

Merck CEO Frazier leaves Trump council

August 14, 2017 By Sarah Faulkner

Merck

Merck (NYSE:MRK) announced today that chief executive Kenneth Frazier plans to resign from President Donald Trump’s American Manufacturing Council, citing the president’s mild-mannered response to a white nationalist rally in Virginia on Saturday. The “Unite The Right” gathering turned deadly when a car mowed down a group of counter-protesters, killing at least one person and injuring […]

Filed Under: Featured, Pharmaceuticals, Policy, Wall Street Beat Tagged With: Capitol Hill, Merck

Trump declares national emergency over opioid epidemic

August 11, 2017 By Sarah Faulkner

Pills

President Trump said yesterday that he is preparing to declare the opioid epidemic a national emergency. This is a reversal from an announcement made earlier this week by Health and Human Services Secretary Tom Price, who said that they would not declare a state of emergency. “The opioid crisis is an emergency, and I’m saying […]

Filed Under: Featured, Pain Management, Pharmaceuticals, Policy Tagged With: Capitol Hill

Nevada law takes aim at insulin makers and their pricing strategies

June 20, 2017 By Sarah Faulkner

Pills

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 […]

Filed Under: Featured, Pharmaceuticals, Policy Tagged With: Capitol Hill

Senate drug price hearing turns into debate over healthcare reform

June 19, 2017 By Sarah Faulkner

Prescription drugs

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 […]

Filed Under: Featured, Food & Drug Administration (FDA), Pharmaceuticals, Policy, Wall Street Beat Tagged With: Capitol Hill, Gilead Sciences

Mallinckrodt faces probe over price hikes for injectable pain-killer

May 30, 2017 By Sarah Faulkner

Mallinckrodt Pharmaceuticals

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 […]

Filed Under: Drug-Device Combinations, Featured, Pain Management, Pharmaceuticals, Policy, Wall Street Beat Tagged With: Capitol Hill, Mallinckrodt Pharmaceuticals

Trump proposes deep cuts to Medicaid, NIH funding

May 23, 2017 By Sarah Faulkner

Capitol Hill

President Donald Trump’s proposed budget would slash Medicaid funding and cut support for major biomedical research programs at the National Institutes of Health and the Centers for Disease Control & Prevention. The budget blueprint drew condemnation from healthcare advocates and lawmakers from both sides of the aisle. Senate majority whip Sen. John Cornyn (R-Texas) reportedly said earlier […]

Filed Under: Featured, Food & Drug Administration (FDA), Funding Roundup, Pharmaceuticals, Policy, Wall Street Beat Tagged With: Capitol Hill, Centers for Medicare and Medicaid Services (CMS), National Institutes of Health

New FDA commish extends time for comments on off-label communication rules

May 19, 2017 By Sarah Faulkner

FDA

Under the agency’s new commissioner, Dr. Scott Gottlieb, the FDA has reportedly extended the time for comments in its review of off-label communication rules. In the past, Gottlieb has advocated for off-label uses of medical products, arguing that doctors are adequately trained to make decisions in the best interest of their patients. The FDA maintains […]

Filed Under: Featured, Food & Drug Administration (FDA), Pharmaceuticals, Regulatory/Compliance Tagged With: Capitol Hill

Trump considers drug-pricing reform with input from industry groups, advocates

May 16, 2017 By Sarah Faulkner

Prescription drugs

President Donald Trump’s administration took aim at drug-pricing reform this month by holding listening sessions with industry groups and advocates. His administration is pursuing actions it can take with and without Congress to combat the industry’s high drug prices, according to a report from The Hill. The pharmaceutical industry, traditionally a powerful lobbying force on Capitol […]

Filed Under: Featured, Pharmaceuticals, Policy, Wall Street Beat Tagged With: Capitol Hill

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