pharmaceutical industry

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Pharma Exec on 400% Drug Price Jump: 'Moral Requirement'

Nirmal Mulye defends move, says he's in the drug business 'to make money'

(Newser) - The founder and president of a pharmaceutical company that last month raised the price of an "essential" antibiotic from $474.75 per bottle to $2,392 per bottle tells the Financial Times the 400% increase was not only justifiable but morally imperative. "I think it is a moral... More »

Trump Tweeted Pfizer Should Be 'Ashamed.' Pfizer Responds

After meeting between Trump and Pfizer CEO Ian Read, company says it will defer price hikes

(Newser) - Last week, Pfizer jacked up the price for several dozen prescription drugs; this week it received a dressing down from President Trump. Now, per the Wall Street Journal , the pharmaceuticals giant has responded to his criticism with a postponement on those price hikes after the company said CEO Ian Read... More »

Amazon Just Made a Big Move That Might Worry CVS

Jeff Bezos is buying PillPack, an online pharmacy that dispenses prescription drugs

(Newser) - There's a reason shares of CVS, Walgreens, and Rite Aid were tumbling Thursday, and it can be summed up in one word: Amazon. The retailing behemoth made its first significant move into the pharmacy business by buying PillPack, an online company that ships medications to customers' homes, reports the... More »

Company Sold $1.3B of a Drug That's Not Hugely Effective

Inside New York state's pushback against Orkambi

(Newser) - Only 28,000 of the planet's 7 billion people are eligible to take the cystic fibrosis drug Orkambi. And yet that tiny population enabled drugmaker Vertex to make roughly $1.3 billion in sales off the product. How does that math work out? The annual price of the drug... More »

FDA Approves Potential Migraine Game-Changer

Monthly injection reduces migraine frequency without major side effects

(Newser) - "Progress, but not a panacea." So proclaims an editorial in journal JAMA on Aimovig, a first-of-its-kind drug purported to prevent chronic migraines without many side effects that was on Thursday approved by the FDA. The drug from Amgen and Novartis, and similar ones in their final stages, "... More »

'Pharma Bro' Faces High-Stakes Sentencing

Prosecutors want Shkreli to get 15 years

(Newser) - Is "Pharma Bro" Martin Shkreli a master manipulator who conned wealthy investors or a misunderstood eccentric who used unconventional means to make those same investors even wealthier? A federal judge in Brooklyn will have to weigh the conflicting portrayals of the former pharmaceutical company CEO on Friday at his... More »

Sufferers of Rare Disease Get Lesson in US Drug Economics

Generic versions of old drugs don't always mean deep discounts

(Newser) - Sufferers of Wilson disease, a rare condition that causes copper to build up in the body, were excited by the announcement of a generic version of the 50-year-old drug they use to treat the condition. Then they heard the price tag: $18,375 for a 100-pill bottle. "I had... More »

Stuck With Leftover Opioids? Walmart Has a Solution

Walmart to offer first-of-its-kind product to customers

(Newser) - Walmart is helping customers get rid of leftover opioids by giving them packets that turn the addictive painkillers into a useless gel. The retail giant announced Wednesday that it will provide the packets free with opioid prescriptions filled at its 4,700 US pharmacies. The small packets, made by DisposeRx... More »

Search for Alzheimer's Treatment Is Dealt a Blow

Pfizer announced R&D on new drugs will cease

(Newser) - The Alzheimer's Association estimates that more than 5 million Americans are living with the disease—and that by 2050, that count could triple. But Pfizer on Saturday announced it's getting out of the Alzheimer's game, at least when it comes to researching potential new drugs. The company... More »

Cancer Drug Price Rises 1,400% in Just 4 Years

'Wall Street Journal' examines the jump from $50 a pill to $768 for lomustine

(Newser) - The Wall Street Journal illustrates the continuing problem of soaring drug prices by zeroing in on a cancer drug called lomustine. Used to treat brain tumors and Hodgkin lymphoma, the drug sold for about $50 a pill under the brand name CeeNU as recently as 2013. Then owner Bristol-Myers Squibb... More »

Can't Afford Life-Saving Medicine? Just Make Your Own

Anarchist is leading push to upend the pharmaceutical industry

(Newser) - Don't have $600 to spare for a two-pack of EpiPens? Michael Laufer will show you how to make your own for $35. Need a cure for hepatitis C but don't have $84,000 laying around for Sovaldi? The anarchist says his DIY version will run you $800 or... More »

At Own Trial, 'Biggest Mouth' in Pharma Finally Closes

Martin Shkreli says he decided against 'risky' move, won't testify

(Newser) - Earlier this month, prosecutors wanted Martin Shkreli to stop the "campaign of disruption" they say he'd been leading during his securities fraud trial, and they were able to get a judge to order him to stop blabbing about his case publicly. Now it looks like those sealed lips... More »

The 'Open Secret' About Drug Expiration Dates

They may still be effective years after they expire, researchers say

(Newser) - Pharmacists who cringe when they have to toss expensive drugs once they expire may be interested to hear this drug dump may be unnecessary—and may be a contributing factor to big waste in the medical industry (estimated to be $765 billion a year), as well as the overall high... More »

Lady Gaga Cited Not Once, but Twice in Shkreli Trial Opening

Shkreli was simply 'born this way,' defense attorney argues about eccentric client

(Newser) - Is Martin Shkreli "strange" and "weird," with a "dysfunctional personality"? Yes on all counts, per Benjamin Brafman, the ex-pharma CEO's lawyer, who offered what the New York Times calls a "captivating" opening statement at Shkreli's securities fraud trial Wednesday in New York... 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 »

How Martin Shkreli Is Staying Free

He used $45M E*Trade account to secure his bail

(Newser) - Martin Shkreli is wealthy enough to buy a $120 tea on a whim, but exactly how much money he has is a mystery. A recent court filing, however, shows the former drug CEO had at least $45 million in an E*Trade account as of Wednesday; Shkreli used it to secure... 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 »

New Killer to Top Cancer by 2050—and We're to Blame

Medicine-resistant infections will spike dramatically: study

(Newser) - We've already been warned about an "antibiotic apocalypse." Now a new study says medicine-resistant infections will take more lives annually than cancer does by 2050 unless action is taken, CNBC reports. According to the Review on Antimicrobial Resistance , deaths caused by drug resistance will rise from 700,... More »

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