Mylan (NSDQ:MYL) was hit with another class action lawsuit over the price of its EpiPen device yesterday. The lawsuit, which was filed in the Washington Western District Court, alleges that Mylan engaged in a scheme with pharmacy benefit managers to dominate the market and overcharge customers. Although the Canonsburg, Penn.-based company has been hit with several lawsuits […]
Mylan
EpiPen manufacturer expands recall to U.S.
Mylan (NSDQ:MYL) said last week that its manufacturing partner, Meridian Medical Technologies, expanded an EpiPen recall to include the U.S. and other markets. The move comes 1 week after Mylan recalled 81,000 EpiPen devices in countries outside the U.S. following 2 reports that the allergy auto-injector failed to work in emergency situations. Get the full story at […]
Mylan shares down -3% after FDA rejects Advair generic
Shares in Mylan (NSDQ:MYL) dropped -3% to $40.46 apiece today after the FDA rejected its Abbreviated New Drug Application for the generic version of GlaxoSmithKline‘s (NYSE:GSK) Advair Diskus. The Canonsburg, Penn.-based company said it is “in the process of reviewing this response and will provide an update on its application as soon as practicable once it has […]
Pulmatrix jumps 8% on rumors of potential Mylan takeover bid
Shares in Pulmatrix (NSDQ:PULM) jumped more than 8% today on rumors that the company’s collaboration partner Mylan (NSDQ:MYL) may be interested in a takeover bid. In 2015, the 2 companies inked an ex-U.S. development deal for PUR0200, Pulmatrix’s investigational bronchodilator for the treatment of chronic obstructive pulmonary disease. Mylan had an option on the rights […]
Abbott divests 60% of its stake in Mylan
Abbott (NYSE:ABT) divested 60% of its remaining stake in Mylan (NSDQ:MYL) this week, according to regulatory filings, disposing of 44 million shares at $41.60 apiece. The trade was valued at $1.7 billion. In 2014, Mylan bought Abbott’s generics business outside the U.S. in a deal that rang in at nearly $5.3 billion. The deal allowed Canonsburg, Penn.-based Mylan […]
Mylan recalls 81,000 EpiPens over reports of device failure
Mylan (NSDQ:MYL) recalled 81,000 EpiPen emergency allergy auto-injectors this week after receiving 2 reports that the device failed to work in emergencies. The recall affects devices in Australia, New Zealand, Europe and Japan, the company reported. Canonsburg, Penn.-based Mylan said that in both cases, patients received treatment using an alternate EpiPen. The drugmaker also said that it […]
Demand for EpiPen alternatives jumps as states consider access legislation
Prescriptions for EpiPen alternatives such as Kaléo Inc.‘s Auvi-Q device have quadrupled since the beginning of this year, according to data from the Athenahealth Network. The demand for cheaper alternative devices is likely driven by revelations that Mylan (NSDQ:MYL) hiked the price of its EpiPen emergency allergy injector by 500% since it acquired the device in 2007. Generic […]
Mylan posts Street-beating Q4 earnings
Shares in Mylan (NSDQ:MYL) rose today after the EpiPen-maker met expectations on Wall Street with its 4th quarter results. The Canonsburg, Pa.-based company posted profits of $417.5 million, or $1.57 per share, on sales of $3.27 billion for the 3 months ended Dec. 31, for bottom-line growth of 114.5% on sales growth of 31.3% compared with the same […]
CMS nominee Verma: Mylan’s EpiPen case ‘disturbing’
Seema Verma, the nominee to head the Centers for Medicare & Medicaid, said at her confirmation hearing that she would like to review the way pharmaceutical companies classify products as generic or branded, citing the case of Mylan‘s (NSDQ:MYL) EpiPen emergency allergy device. Mylan faced criticism this year for classifying EpiPen as a generic and paying smaller rebates to Medicaid […]
Mylan hit with antitrust lawsuit over EpiPen device
Mylan (NSDQ:MYL) said on Monday that it is undergoing an antitrust probe by the Federal Trade Commission into the company’s commercial practices regarding its EpiPen device. The Canonsburg, Pa.-based company reportedly responded to the allegations that it improperly fought off competition, saying “any suggestion that Mylan took any inappropriate or unlawful actions to prevent generic competition […]
Kaleo announces US availability, pricing of allergy auto-injector
Kaléo Inc. said yesterday that its Auvi-Q epinephrine auto-injector will be available by prescription in the U.S. beginning Feb. 14th. The Richmond, Virginia-based company’s emergency allergy treatment was pulled from the market in 2015 due to manufacturing issues. The Epipen competitor device will be sold at a list price of $4,500, but Kaléo said that as a […]