Pfizer (NYSE:PFE) agreed to pay $345 million to settle claims of overpayments for EpiPens due to alleged anti-competitive and unfair practices. Reuters reported that a filing disclosed in federal court in Kansas City, Kan., revealed the settlement set to resolve claims from consumers who say they overpaid for EpiPens with the alleged anti-competitive and unfair practices by […]
Mylan
Kansas Distric Court rules in favor of Mylan in EpiPen class action
Viatris (NSDQ:VTRS) announced that the U.S. District Court for the District of Kansas ruled in favor of Mylan in an EpiPen class action. Mylan, which Pfizer combined with its Upjohn business to form Viatris in November 2020, received a favorable ruling in substantial part that dismissed all of the plaintiffs’ claims under the federal RICO statute, including claims […]
DTW Podcast: CEO Johnson on entrepreneurship, upcoming MedtechColor Pitch Contest; Krum handicaps medtech Q4
In this episode of the DeviceTalks Weekly Podcast, Angelique Johnson, CEO of MEMstim, shares her “accidental entrepreneur” story and how it has enabled her the help others pursuing the same dream. Also, Johnson, co-founder of MedtechColor, an organization seeking to further the advancement of people of color in the medical device industry, details the group’s […]
Mylan must face EpiPen racketeering lawsuit
A federal judge in Minnesota has decided that Mylan must face a lawsuit accusing it of paying bribes and kickbacks to pharmacy benefit managers and of conspiring to fix prices on its EpiPen device. Drug wholesalers Rochester Drug CoOperative and Dakota Drug filed separate but similar lawsuits in March 2020 and June 2020, respectively, claiming that Mylan […]
Gilead licenses remdesivir production to 5 generic drugmakers
Gilead Sciences’ (NSDQ:GILD) said Tuesday that it has signed licensing agreements with five generic pharmaceutical manufacturers based in India and Pakistan to further expand supply of remdesivir, the experimental drug being used in the U.S. to treat COVID-19. The non-exclusive, voluntary agreements allow the companies — Mylan (NSDQ:MYL), Cipla, Ferozsons Laboratories, Hetero Labs and Jubilant Lifesciences — […]
Teva launches generic EpiPen Jr.
Teva (NYSE:TEVA) today announced that its FDA-approved generic EpiPen Jr. auto-injector is available in the U.S. The device wholesales to most retail pharmacies in packs of two for $300, or $150 per pen. Teva’s product is less than half the cost of Mylan’s non-generic EpiPen Jr., which lists at $643.89 per two-pack at Drugs.com. Get the full story at […]
Mylan agrees to settle SEC EpiPen probe for $30 million
Mylan (NSDQ:MYL) is nearing a $30 million settlement with the Securities and Exchange Commission (SEC) over an investigation involving the company’s EpiPen auto-injector and the Medicaid drug rebate program. The SEC probe was announced in 2016, shortly after Mylan agreed to pay $465 million to the U.S. Department of Justice to settle claims that it underpaid […]
Pfizer to absorb Mylan in off-patent drug spinout
Pfizer (NYSE:PFE) plans to absorb Mylan (NSDQ:MYL) as part of the spinout of its Upjohn off-patent drugs business in an all-stock deal. The deal, structured to avoid taxes on any gains from the spinout, would see each Mylan share converted into a share of the as-yet-unnamed new company. Pfizer stockholders would then own 57% of the new firm, […]
Mylan shares fall on sales miss, swing to Q1 losses
Mylan (NSDQ:MYL) posted first-quarter results today that missed the consensus revenue forecast on Wall Street, sending its share prices down. The Canonsburg, Penn.-based company swung to red ink for the three months ended March 31, reporting losses of -$25 million, or -5¢ per share, on a -7.0% sales decline to $2.5 billion, compared with Q1 2018. […]
Mylan shares down on mixed Q4 results
Shares in Mylan (NSDQ:MYL) fell yesterday after the company missed earnings expectations but beat sales estimates on Wall Street with its fourth-quarter financial results. The Pittsburgh, PA-based company posted profits of $51.2 million, or 10¢ per share, on sales of $3.04 billion for the three months ended Dec. 31, for bottom-line loss of -79% on sales loss […]
Mylan launches generic sublingual film for opioid dependence
Mylan (NSDQ:MYL) said today that it launched its buprenorphine and naloxone sublingual film as a generic of Indivior‘s (LON:INDV) Suboxone sublingual film. The product is indicated for the treatment of opioid dependence. The therapy should be used alongside counseling and psychosocial support for people living with opioid dependence, according to Mylan. Get the full story at our […]
