CVS Health Corp. (NYSE:CVS) said today that it will start selling a generic version of Impax Laboratories‘ (NSDQ:IPXL) emergency allergy injection, Adrenaclick. The device is similar to Mylan‘s (NSDQ:MYL) EpiPen, although regulators do not consider the 2 devices to be exactly the same. The Adrenaclick has a list price of more than $400, but the generic […]
Mylan
J&J to publish list of average drug price increases
Johnson & Johnson (NYSE:JNJ) is reportedly issuing a report next month that will detail how much it has raised the list prices for its prescription drugs. The J&J report will describe average increases in list prices and the average prices after discounts. The move comes after some pharmaceutical companies, including Allergan (NYSE:AGN) and Novo Nordisk (NYSE:NVO), have […]
Bipartisan report from senators calls for drug pricing reform
The U.S. Senate Special Committee on Aging released a bipartisan report yesterday suggesting ways to respond to spikes in drug pricing. The report comes after a months-long investigation spearheaded by Sens. Susan Collins (R-Maine) and Claire McCaskill (D-Missouri). The senators wrote that massive spikes in drug prices are “gouging” patients and that lawmakers should respond. […]
Mylan launches first generic EpiPen as state AGs sue generics makers for price collusion
Mylan (NSDQ:MYL) launched its 1st generic EpiPen emergency allergy treatment 1 day after attorney generals from 20 states filed a civil complaint against Mylan, Teva Pharmaceuticals (NYSE:TEVA), and 4 other generic drug makers. The complaint alleges that the companies co-conspired in informal gatherings, calls and text messages to fix the price for glyburide, a diabetes drug, and doxycycline […]
Ex pharma execs first to be charged in generic drug pricing case
Former Heritage Pharmaceuticals CEO Jeffrey Glazer and ex-president Jason Malek were hit yesterday with the 1st criminal charges from a 2-year federal investigation in an ongoing generic drug pricing case. The 2 former executives were charged by federal authorities with price collusion for doxycycline hyclate, a widely used antibiotic, and a diabetes therapy called glyburide […]
Federal watchdog to investigate CMS drug rebate program
The Office of the Inspector General of the Health and Human Services Departments said last week that it will begin investigating whether the Centers for Medicare & Medicaid Services properly monitors its Medicaid Drug Rebate Program. The investigation comes after CMS reported that Mylan (NSDQ:MYL) underpaid Medicaid by not paying appropriate rebates. The Canonsburg, Penn.-based company said […]
Mylan, Allergan launch fight over Restasis eye drop patents
Allergan (NYSE:AGN) said this week that it will “vigorously defend” the patents for its Restasis eye drops, after the U.S. Patent and Trademark Office’s Patent Trial and Appeal Board agreed to an inter partes review of 6 patents as requested by generic competitor Mylan (NSDQ:MYL). The patents are valid until August 2024. “Allergan is disappointed in […]
Mylan to cut 10% of workforce in restructuring efforts
Mylan (NSDQ:MYL) shares dropped 5% this morning after it said in regulatory filing that it expects to cut less than 10% of its global workforce as a result of its restructuring efforts. The Canonsburg, Penn.-based company has about 35,000 employees, according to Reuters, and wrote in the SEC filing that it will implement restructuring programs in specific […]
Novo Nordisk joins Allergan in pledge to limit price hikes
Novo Nordisk (NYSE:NVO) president Jakob Riis said this week that the company will limit annual price hikes of its products’ list prices to single-digit percentages, joining Allergan (NYSE:AGN) CEO Brent Saunders who released a “social contract” 3 months ago with the same goal. “We hear from more and more people living with diabetes about the challenges […]
Mylan CEO Bresch accepts “full responsibility” for EpiPen price hikes
Mylan (NSDQ:MYL) CEO Heather Bresch reportedly accepted “full responsibility” for the company’s EpiPen price hikes that sparked outrage over the past 2 months, but defended the company’s actions while blaming an opaque industry that she said was not built for consumer engagement. The CEO made her remarks at the Forbes Healthcare Summit in New York on Thursday. “There are […]
Mylan declines to testify at Senate committee hearing
Mylan (NDSQ:MYL) declined to testify at a U.S. Senate committee regarding its $465 million pending settlement to deal with charges that it underpaid government healthcare programs when it misclassified its EpiPen injector as a generic. The Canonsburg, Pa.-based company penned a letter to the Senate Judiciary Committee Nov. 18, saying it would not testify because […]