pharmaceutical companies

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Feds Approve Pill With Digital Tracking System

Tiny chip communicates with smartphone app

(Newser) - In an unprecedented step to ensure that patients with mental disorders take the medicine prescribed for them, the Food and Drug Administration has approved the first drug in the United States with a digital ingestion tracking system. The drug Abilify MyCite was developed by Otsuka Pharmaceutical Co., Ltd. Abilify was... More »

Pharma Billionaire Allegedly Paid Doctors to Push Fentanyl

Insys founder faces charges including bribery, racketeering

(Newser) - Sarah Fuller died a little more than a year after she was prescribed a fentanyl spray for her chronic neck and back pain, but her mom doesn't just blame the opioid. She points the finger at "a drug company who couldn't care less about a human life.... More »

Why Insurance Companies Are Saying No to Generic Drugs

And yes, it might be hurting your pocket

(Newser) - It flies in the face of conventional wisdom: insurance companies that won't pay for a generic medicine, essentially forcing patients to opt for pricey brand-name drugs. And yet that's exactly what's happening, report ProPublica and the New York Times . It's "befuddling," says one 41-year-old... More »

This Drug Just Got the FDA's OK—and an $89K Price Tag

Marathon Pharmaceuticals to sell deflazacort for $89K

(Newser) - A drug sold for years overseas to treat a rare form of muscular dystrophy was OKed Thursday by the FDA to be sold in the US, but it comes at a high price. The Wall Street Journal reports the now-FDA-approved deflazacort will be offered by Marathon Pharmaceuticals for $89,000... More »

Pfizer Bans Use of Its Drugs in Executions

This is a milestone in anti-capital punishment campaign

(Newser) - Drug giant Pfizer says that since it is in the business of "saving and improving" lives, it has taken steps to make sure its products are not used to execute people. "Pfizer strongly objects to the use of its products as lethal injections for capital punishment," the... More »

Report: Doctors Getting Pharma Money Prescribe More Brand-Name Drugs

New analysis finally proves the 'prevailing wisdom'

(Newser) - It certainly seems like doctors who take money from pharmaceutical companies would prescribe more brand-name drugs, but there's never been proof of that. That is until an extensive analysis by ProPublica , which found that the more pharmaceutical money a doctor accepts, the more brand-name medicines they prescribe to patients.... More »

Martin Shkreli Celebrates Price Hike in Newly Released Emails

'$1 bn here we come'

(Newser) - Documents and emails released Tuesday by congressional investigators show "pharma bro" and Internet villain Martin Shkreli "giddily rubbing his palms together at the prospect of all the money Daraprim will generate," as NPR puts it. Shkreli and his company, Turing Pharmaceuticals, acquired the drug Daraprim—frequently used... More »

It's Not Just Shkreli Who's Been Hiking Drug Prices

Lots of drugmakers did it around Jan. 1—some up to 20%, per analyst reports

(Newser) - Martin Shkreli attracted no small amount of scorn for jacking drug costs, but he's far from alone. Plenty of other drugmakers have been guilty of hikes, many just since late December, claiming they need to do so to fund "risky" research, the Wall Street Journal reports. Analysts... More »

Hepatitis-Curing Pill Costs 250 Times More in US Than India

And that's limiting access to Americans with the disease

(Newser) - It's starting to seem like America is an expensive place to get a disease. Bloomberg reports sofosbuvir—a Hepatitis C "miracle cure"—that retails for $1,000 per pill in the US is currently going for $4.29 in India, and that price is continuing to drop.... More »

Company Shkreli Wanted to Turn Around Files for Chapter 11

KaloBios Pharmaceuticals is still appealing its Nasdaq delisting

(Newser) - Earlier this month, Martin Shkreli's company dumped him as CEO after he was arrested for securities fraud . But the damage to KaloBios Pharmaceuticals has been done, and Tuesday the company filed for Chapter 11 bankruptcy protection in Delaware, Reuters reports. The filing lists assets of more than $8 million... More »

FBI Busts Pharma Bad Boy on Fraud Charges

Martin Shkreli accused of using company stock to pay other debts

(Newser) - Martin Shkreli may have to dump some of his recent musical acquisitions to pay his own legal fees: The 32-year-old pharmaceutical pariah who unapologetically jacked the price of a life-saving drug was arrested by the FBI Thursday on charges of federal securities fraud, Reuters reports. Shkreli is accused of pilfering... More »

Martin Shkreli Is Jacking Up Drug Prices Again

'Pretty devastating'

(Newser) - Stop us if you've heard this one before: Internet villain Martin Shkreli's company just bought the rights to a drug that's been used to treat a serious infectious disease since the 1970s and is planning to drastically jack up the price. Reuters reports Shkreli's new company,... More »

State Budgets Pushed to Brink by $710-a-Day Drug

It's the latest pharmaceutical pricing controversy

(Newser) - A newly approved drug is being hailed as a major advance in treatment of cystic fibrosis, a life-threatening genetic disease that clogs the lungs with mucus and makes patients struggle to breathe. But it comes with a punishing price tag—about $710 per patient per day. Orkambi—taken as two... More »

CEO: Pfizer Leaving US Is Good for ... US

Freed-up cash from tax savings could be reinvested back into US: Ian Read

(Newser) - It may seem antithetical that the largest US drugmaker taking off for Ireland would actually prove beneficial to the US, but that's exactly what the CEO of Pfizer is saying after Monday's announcement of its estimated $160 billion "inversion" deal with Allergan, creating the world's biggest... More »

Latest 2,000% Drug Price Hike Hurts Infants

Seizure medication goes way, way up in cost

(Newser) - Rapid treatment is of utmost importance for babies diagnosed with infantile spasms, also known as West syndrome, a form of epilepsy that causes seizures and corresponding abnormal bursts of electrical activity in the brain. About half of the babies with it don't respond to the first drug that's... More »

Why CEO Hasn't Cut Drug's 5K% Price Hike

Turing chief Martin Shkreli says it will be a 'long' process to figure out demand

(Newser) - As of a week ago , pharmaceuticals purveyor Martin Shkreli hadn't kept his promise to lower the cost of a toxoplasmosis drug after outcry over its 5,000% price hike over the summer. Nothing much has changed since—except now the Turing Pharmaceuticals CEO is explaining why Daraprim is still... More »

Pharma Company Still Hasn't Reversed 5,000% Price Hike

Even though Martin Shkreli said they would backtrack

(Newser) - Two weeks ago, Martin Shkreli, the controversial CEO of Turing Pharmaceuticals, said that, following much public pressure, he would dial back his company's 5,000% price hike on a toxoplasmosis drug. But Daraprim, which jumped from $13.50 to $750 per pill, still costs the same amount, Business Insider... More »

Canada Tries to Cut Cost of Lifesaving Drug, Gets Sued

Canada wants to lower dizzying price of Soliris; Alexion says no way

(Newser) - Soliris is one of the world's most expensive drugs, running about $500,000 a year in the US. In Canada, a year's supply of the drug, used to treat two rare blood diseases—paroxysmal nocturnal hemoglobinuria (PNH) and atypical hemolytic-uremic syndrome (AHUS)—is even pricier at about $525,... More »

Drug CEO Caves, Will Drop Price of $750 Pill

Martin Shkreli says people misunderstand the issue

(Newser) - The drug company CEO called the "most hated man in America right now" by the BBC says he's misunderstood—but that he'll lower the price of Daraprim in response to the firestorm of criticism . "There were mistakes made with respect to helping people understand why we... More »

Drug's Price Changed From $13.50 a Tablet to $750

Daraprim move doesn't go over well

(Newser) - "This isn't the greedy drug company trying to gouge patients, it is us trying to stay in business. It really doesn't make sense to get any criticism for this." The "this" Martin Shkreli is referring to is the price hike his company instituted after it... More »

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