When the Justice Department announced it was bringing criminal charges against two former executives of a pharmaceuticals company, alleging a conspiracy to fix prices on generic drugs, we said that this was likely just the tip of the legal iceberg. Today, the industry ran smack into that iceberg — in the form of a lawsuit filed by twenty states against six different drug companies, including notables like Teva and Mylan. [More]
Under pressure to reduce the price of its expensive EpiPen emergency allergy treatment, drugmaker Mylan said in August that it would be introducing a generic version of the drug at half the retail price. Now it looks like the less-costly epinephrine auto-injector will be hitting the market after Thanksgiving.
Almost exactly a year after pharmaceutical maker Sanofi recalled nearly 500,000 epinephrine injectors after finding they might not provide the correct dosage to patients, the product is gearing up for a comeback, potentially creating a less expensive competitor to the highly scrutinized EpiPen. [More]
If you’ve got a patent-protected drug that’s bringing in more than $1 billion a year in sales, you stand to lose a significant chunk of that revenue when the patent expires and lower-cost generic versions come on the market. A California prosecutor alleges that a number of drug companies illegally colluded in a nearly decade-long “pay-for-delay” deal intended to prevent the release of a cheaper competitor to a popular cholesterol drug. [More]
In recent weeks, members of both the House and Senate have raised questions about the soaring price of — and potential antitrust concerns surrounding — emergency allergy treatment EpiPen. A congressional committee confirmed this morning that it will soon hold a hearing on the issue, and that Heather Bresch, CEO of EpiPen maker Mylan, has been called to testify. [More]
Teva sandals are no longer for granola-crunching outdoors types. Now the fashion-conscious adventurer can go straight from the rugged rocks to the black-tie fundraiser without missing a beat.
Generic prescription drugs are just that: generic. Most patients don’t think much about who actually manufactures them. It’s pretty likely, however, that you have something in your medicine cabinet manufactured by Israel’s Teva Pharmaceutical Industries Ltd. A profile of the company in this past weekend’s New York Times is fascinating. Most interesting of all: while the company is sensibly frugal enough to make Captain Moneycat purr, they refuse to move manufacturing to China or India, as many of their competitors have.