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Biotech & Pharmaceuticals
Insys Therapeutics CEO Michael Babich has stepped down, with company chairman Dr. John Kapoor taking over as CEO. The news comes as the company reported third quarter earnings on Thursday, and shortly after CNBC released an investigative piece on Wednesday on the company, which included allegations of fraud, kickbacks, and aggressive drug marketing behavior by …
The United States’ opiate drug problem isn’t limited to illegal narcotics. The sale of dangerously addictive painkillers willfully prescribed by our physicians has quadrupled in the past decade, and one company in particular is pushing pain to the legal edge of aggressive medical marketing. According to criminal complaints, attorney generals’ reports and CNBC sources, specialty …
Valeant cuts ties with specialty pharmacy Philidor, which distributed some of its prescriptions.
Pfizer and Allergan are in merger talks that could create the world’s largest pharmaceutical company.
Ireland-based Allergan on Thursday confirmed that it has been approached by Pfizer and is in talks regarding a potential deal with the U.S. drug company, raising questions about another pharmaceutical tax inversion. Allergan said no agreement had been reached, describing the talks as “preliminary and friendly.” Shares of Allergan popped about 9 percent in early …
What the big merger between Walgreens Boots Alliance and Rite Aid could mean for you.
Shares of Eli Lilly slide after it scrapped an experimental cholesterol drug that was once thought to have big potential.
Express Scripts, the largest pharmacy benefits manager in the U.S., says it’s got a plan to fight drug price increases: Refuse to pay. “We actually have inflation protection, which is really important,” Express Scripts Chief Medical Officer Dr. Steve Miller said in a telephone interview Tuesday. “What really frustrates employers and other plan sponsors is …
Seniors, get ready to dig deeper into your wallets, or to start shopping more. More than 15 million people enrolled in the top 10 Medicare “Part D” prescription drug plans will face average premium hikes of 8 percent next year, according to a new analysis. Those top 10 plans account for more than 80 percent …
Turing Pharmaceuticals CEO Martin Shkreli was lambasted this week by medical groups, a presidential candidate and his own industry for raising the price of a 62-year-old drug by 5,000 percent. He reversed course under pressure Tuesday night, but not before the national attention struck fear into the hearts of biotech investors over increased scrutiny of …
How can the price of a 62-year-old drug rise more than 5000% seemingly overnight?
The major biotech ETF fell to its lows of the day after Monday morning comments from Democratic presidential hopeful Hillary Clinton saying she would take on “price gouging” in the pharmaceutical industry. A Sunday New York Times article told of a specialty drug that went from $13.50 to $750 per tablet overnight. Responding on Twitter …
When government economists last week predicted an uptick in the nation’s health-care spending rate, they were asked whether they had considered the potentially high overall costs of pricy new cholesterol drugs that have begun winning federal approval. They had, Sean Keehan, one of those economists from the Centers for Medicare and Medicaid Services, told reporters …
Baxalta rejected an unsolicited $30 billion off from Ireland based Shire.
Meg Tirrell takes a look at what drove the tie-up between Teva Pharmaceuticals and Allergan and why there could be more M&A in the works.