pharmaceutical industry

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FDA: Data Manipulated Before Approval of $2.1M Drug

Novartis could face civil, criminal penalties

(Newser) - US regulators want to know why Novartis didn't disclose a problem with testing data until after the Swiss drugmaker's $2.1 million gene therapy was approved. The Food and Drug Administration said Tuesday the manipulated data involved testing in animals, not patients, and it's confident that the... More »

Trump Administration Makes Big Move on Pharmaceuticals

Americans will be allowed to import lower-cost prescription drugs from Canada

(Newser) - The Trump administration said Wednesday it will set up a system to allow Americans to legally import lower-cost prescription drugs from Canada, weakening a long-standing ban that had stood as a top priority for the politically powerful pharmaceutical industry. Health and Human Services Secretary Alex Azar made the announcement Wednesday... More »

This Is the First State to Cap the Price of Insulin

'The days of insulin price gouging are over in Colorado'

(Newser) - With the soaring price of insulin forcing some diabetics to ration the drug , Colorado has become the first state to introduce a price cap. The state has introduced a law that caps the price of co-pays for insured patients to $100 a month, USA Today reports. "The days of... More »

A Tweak to TV Ads for Prescription Drugs Is Coming

Prices will have to be included

(Newser) - Those ever-present TV ads for prescription drugs will soon reveal prices, too, the nation's top health official said Wednesday, responding to a public outcry for government action to restrain medication costs. Health and Human Services Secretary Alex Azar said the Trump administration has finalized regulations that will require drug... More »

Pharma Exec Convicted in Sensational Opioid Case

John Kapoor's Insys Therapeutics used illegal tactics to sell its fentanyl spray

(Newser) - A pharmaceutical company founder accused of paying doctors millions in bribes to prescribe a highly addictive fentanyl spray was convicted Thursday in a case that exposed such marketing tactics as using a stripper-turned-sales-rep to give a physician a lap dance. John Kapoor, the 76-year-old former chairman of Insys Therapeutics, was... More »

Popular Diabetes Drug Gets Half-Priced Alternative

Eli Lilly announces 'authorized generic' version of Humalog insulin

(Newser) - Drug-maker Eli Lilly is coming out with a half-priced version of its popular insulin Humalog. In fact, the drug called Insulin Lispro will be identical to Humalog except for its packaging and its price—it will cost $137.50 per vial, or 50% less than Humalog, reports the New York ... More »

Drugmaker Makes Big Change to TV Ads

Johnson & Johnson will do what has never been done before

(Newser) - Johnson & Johnson said Thursday it will start giving the list price of its prescription drugs in television ads, the AP reports. The company would be the first drugmaker to take that step. The health care giant will begin with its popular blood thinner, Xarelto, says Scott White, head of... More »

Sanders Demands to Know Why Drug Went From Free to $375K

The medication, Firdapse, treats a rare neuromuscular disease

(Newser) - Calling it corporate greed, Bernie Sanders wants a pharmaceutical company's justification for why it charges $375,000 per year for a drug that used to be free. "I am profoundly concerned that Catalyst's actions will cause patients to suffer or die," the Vermont senator and possible... More »

More Drugs Recalled Due to Cancer Risk

Aurobindo Pharma USA, Inc., recalls valsartan tablets

(Newser) - The recall of blood pressure medications due to possible risk of cancer is expanding again. Aurobindo Pharma USA, Inc., is voluntarily recalling 80 lots of its valsartan tablets "due to the detection of trace amounts of an unexpected impurity found in the finished drug product," per an FDA... More »

Pharma Giant Unveils New Plan Despite Trump Slam

Pfizer is raising prices on 10% of its drugs

(Newser) - Give it to Pfizer—they waited a while. The pharmaceutical giant is raising the price of 41 prescription drugs after hitting the pause button this summer when President Trump opposed a price hike, reports CNBC . Most prices are slated to rise 5%, while Stocks Beat says the pain drug Lyrica... More »

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 »

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