Shares in Mylan (NDSQ:MYL) rose slightly today after the pharmaceutical giant missed expectations on Wall Street with its 3rd-quarter results. The Canonsburg, Pa.-based company posted a net loss of -$119.8 million, or -23¢ per share, on sales of $3.06 billion for the 3 months ended Sept. 30, for a bottom-line slide of -3% on sales growth of 14.2% […]
Mylan
Trump’s win boosts drug stocks
Pharmaceutical stocks surged today after Donald Trump won the U.S. presidential election, as investors concluded the threat of action on drug pricing had lessened. California’s Proposition 61, which would have prevented the state of California from purchasing drugs from a manufacturer for a price higher than that paid by the U.S. Veterans Affairs Dept., failed to […]
Senate panel adds to call for hearings over Mylan’s EpiPen pricing
The U.S. Senate Judiciary Committee yesterday called on the Federal Trade Commission to investigate whether Mylan (NSDQ:MYL) broke the law after reports claimed the EpiPen maker prevented schools from buying competing allergy treatments. In a letter penned to the FTC, committee chairman Sen. Charles Grassley (R-Iowa) and ranking member Sen. Patrick Leahy (D-Vt.) wrote, “increasing patient access […]
CMS acting chief Slavitt slams drug pricing
Centers for Medicare & Medicaid Services acting chief Andy Slavitt admonished pharma companies like Mylan (NSDQ:MYL) over unsustainable price increases before the Biopharma Congress in Washington D.C. last week. Mylan came under fire this year after reports showed that the Canonsburg, Penn.-based company raised the price of its emergency allergy epinephrine injector by 500% since it acquired the product in 2007 […]
Mylan, Teva crash on report that Justice Dept. could file charges in generic pricing probes
The U.S. Justice Dept. could reportedly file charges in its generic-drug pricing probe into companies including Mylan Pharmaceuticals (NSDQ:MYL) and Teva Pharmaceuticals (NYSE:TEVA) by the end of year. The department is examining whether the generic drug makers colluded on drug pricing, Bloomberg reported yesterday. The news source said that Mylan and Teva have disclosed subpoenas and are cooperating […]
West Virginia wants Justice Dept. to nix Mylan settlement
(Reuters) – West Virginia Attorney General Patrick Morrisey on Wednesday blasted a pending $465 million settlement between Mylan NV (NSDQ:MYL) and the U.S. Justice Dept. over the misclassification of the EpiPen, saying it was “woefully deficient.” In a Nov. 2 letter to Attorney General Loretta Lynch, Morrisey said the amount likely fell short of how […]
EpiPen price hike cost Pentagon millions
Mylan Pharmaceuticals‘ (NSDQ:MYL) 500% price increase on its epinephrine auto-injector cost the U.S Defense Dept. millions, according to data provided to Reuters. The Pentagon spent $57 million on Mylan’s EpiPen last year, up from $9 million in 2008, largely driven by volume and price hikes that affected prescriptions filled at retail pharmacies. Although the Pentagon gets a government discount […]
Kaleo plans 2017 U.S. relaunch for EpiPen competitor Auvi-Q
Kaléo Inc. said today that it plans to relaunch its Auvi-Q injector for emergency allergy treatment in the U.S. during the 1st half of 2017, according to Reuters. The Richmond, Va.-based company’s device was recalled last year after concerns about the accuracy of delivered dose. Sanofi (NYSE:SNY) made and licensed the Auvi-Q device from Kaléo, but returned rights to […]
Mylan, Theravance touts Phase III data for COPD drug
Mylan (NSDQ:MYL) and Theravance Biopharma, Inc. (NSDQ:TBPH) said today that revefenacin, the 1st nebulized bronchodilator in development for the treatment of chronic obstructive pulmonary disease, demonstrated positive results in 2 replicate phase III efficacy studies. Data from more than 1,250 moderate to severe COPD patients showed that both studies met their efficacy and safety endpoints. Revefenacin […]
Hospital survey shows inpatient drug prices rose 40% in 2 years
A community hospital survey sponsored by the American Hospital Assn. and the Federation of American Hospitals shows that inpatient drug prices rose 40% between 2013 and 2015. Almost all of the surveyed hospitals reported that the increases had a moderate to severe effect on their ability to manage costs. “These price increases are extremely troublesome throughout the healthcare system,” according […]
