Express Scripts (NSDQ:ESRX) and other pharmacy benefit managers have been accused of giving Mylan‘s (NSDQ:MYL) EpiPens favorable placement on drug formularies in exchange for kickbacks, according to a proposed class action filed in Kansas federal court this week. The suit was brought by people covered under Employee Retirement Income Security Act benefit plans. These consumers claim […]
Mylan
Mylan inks $465m settlement with DOJ over EpiPen Medicaid classification
Mylan (NSDQ:MYL) said today that it inked a $465 million deal with U.S. Dept. of Justice to settle claims that it misclassified its EpiPen allergy auto-injector device with the Medicaid Drug Rebate Program. In October last year, The Centers for Medicare & Medicaid Services said that Mylan had been overcharging Medicaid for its EpiPen device for years, […]
Mylan tumbles on Q2 miss, lowered outlook
Mylan (NSDQ:MYL) shares fell more than -6% this morning after it posted second quarter results that missed analysts’ sales and earnings estimates. The generics-maker announced that it would not include any major U.S. product launches in its forecast for the full-year, citing uncertainty in the U.S. regulatory market. Other generic drugmakers, like Teva Pharmaceuticals (NYSE:TEVA), have posted […]
Express Scripts covers Mylan’s EpiPen on 2018 formulary, excluding rivals
Express Scripts (NSDQ:ESRX) said yesterday that it would include Mylan‘s (NSDQ:MYL) EpiPen emergency allergy device on its 2018 formulary, favoring the drugmaker’s product over auto-injectors from competitors like Impax Laboratories (NSDQ:IPXL) and Kaleo. The largest pharmacy benefit manager in the U.S. has practiced excluding certain medicines from its list of covered drugs since 2014, pointing towards […]
Mylan, Theravance’s inhaled COPD therapy proves safe in late-stage trial
Mylan (NSDQ:MYL) and Theravance Biopharma, Inc. (NSDQ:TBPH) touted safety data yesterday from the late-stage trial of its once-daily inhaled bronchodilator, revefenacin, in patients with chronic obstructive pulmonary disease. If approved, revefenacin would be the first nebulized long-acting muscarinic antagonist on the market for COPD patients in the U.S. Revefenacin was generally well-tolerated among the 1,055 patients who participated in the […]
Judge rules that Mylan can’t move EpiPen antitrust suit
New Jersey federal judge Freda Wolfson rejected Mylan‘s (NSDQ:MYL) request to move an antitrust lawsuit brought against the EpiPen maker to Kansas. Mylan previously claimed that moving the case to Kansas would consolidate it with other class actions from EpiPen buyers – all of which are alleging violations of antitrust laws. Wolfson blocked the request […]
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 […]
Adamis up, Mylan down on generic EpiPen approval
Shares in Adamis Pharmaceuticals (NSDQ:ADMP) soared more than 50% yesterday after it won FDA approval for its generic EpiPen emergency allergy pre-filled syringe, sending shares in competitor Mylan (NSDQ:MYL) down -3%. For years, Mylan has commanded more than 90% of the market for emergency epinephrine injectors. Adamis’ device, called Symjepi, is intended to be a cheaper […]
Firm urges shareholders to vote against Mylan board nominees
Shareholder advisory firm ISS issued a report today urging its clients to vote against 10 of Mylan‘s (NSDQ:MYL) board members and executive pay packages, including chief executive Heather Bresch and chairman Robert Coury. The recommendation comes after a group of influential investors, including the New York City and State pension funds, encouraged other shareholders to vote […]
ADA 2017 Roundup: Photo ban causes stir among conference attendees
Many scientific conferences have embraced the technological age, creating hashtags for attendees to share content on Twitter and engage with one another. Some conferences even acknowledge attendees with powerful social media presences by giving them special ribbons and including their Twitter handles on their name badges. But at this year’s meeting of the American Diabetes […]
