Tag Archives: pharma

The New York Times reports: President Trump signed an executive order that asks pharmaceutical companies to voluntarily lower drug prices. But it was not clear what legal authority Mr. Trump would invoke, and he threatened to “use the power of the federal government” if companies do not comply. Trump also asserted that a reduction in drug prices will be part …

Reuters reports: A 25% U.S. tariff on pharmaceutical imports would increase U.S. drug costs by nearly $51 billion annually, boosting U.S. prices by as much as 12.9% if passed on, a report commissioned by the industry’s U.S. trade group and reviewed by Reuters shows. The analysis, conducted by Ernst & Young, found the United States imported $203 billion in pharmaceutical …

The Associated Press reports: Walgreens has agreed to pay up to $350 million in a settlement with the U.S. Department of Justice, who accused the pharmacy of illegally filling millions of prescriptions in the last decade for opioids and other controlled substances. The nationwide drugstore chain must pay the government at least $300 million and will owe another $50 million …

Politico report: President Donald Trump said Tuesday that pharmaceutical imports will soon be hit with “major” tariffs as part of his efforts to drive manufacturing back to the U.S. Drug imports evaded the first round of tariffs that Trump imposed on countries around the world, but the president said they will not be spared. “We’re going to be announcing very …

Fierce Pharma reports: As President Donald Trump renewed his threat of potential pharmaceutical tariffs this week, trade group the Biotechnology Innovation Organization (BIO) is warning of the fallout the additional duties could have on patients’ access to medicines. Nearly 90% of U.S. biotech companies rely on some imported materials for at least half of their FDA-approved products, a BIO survey …

ABC News reports: The company and the once-prominent family behind the drug OxyContin agreed Thursday to increase their financial contribution to resolve mass opioid litigation. The Sacklers and Purdue Pharma boosted their settlement contribution to $7.4 billion after the U.S. Supreme Court overturned a prior settlement in June 2024. If approved, the new plan would end the costliest corporate bankruptcy …

Axios reports: Medicare’s $2,000 prescription drug cap will take effect at the start of the new year. The yearly limit on out-of-pocket payments, under the Inflation Reduction Act, is expected to lower millions of seniors’ medical costs. It will have a particularly significant impact for patients taking expensive drugs to treat cancer and other serious conditions. Overall, 3.2 million Americans …

NBC News reports: Walgreens said Tuesday it plans to close 1,200 stores over the next three years as it seeks to further downsize its footprint amid flagging sales and changing consumer behavior. The pharmacy chain said 500 of the closings would occur over the next 12 months. It estimates a quarter of its 8,700 stores in the U.S. are unprofitable. …

Reuters reports: Martin Shkreli has been sued in New York by a digital art collective that said it paid $4.75 million for a one-of-a-kind album by the hip-hop group Wu-Tang Clan, only to learn that the convicted pharmaceutical executive made copies and is releasing the music to the public. Shkreli paid $2 million in 2015 for “Once Upon a Time …

Fierce Biotech reports: After more than a year in the works, Roche and Eli Lilly have taken a step closer to delivering their blood test designed to aid in the diagnosis of earlier cases of Alzheimer’s disease. The FDA has granted their work a breakthrough designation to help accelerate its development. Roche’s Elecsys plasma assay searches for and quantifies phosphorylated …

CNN Business reports: Some people go to Costco for its $1.50 hot dogs, others for its $179 Ozempic prescriptions. The warehouse retailer is now offering its US members access to prescriptions for GLP-1 weight loss drugs through its low-cost health care partner Sesame. Costco first partnered with Sesame, a direct-to-consumer health care marketplace that connects medical providers nationwide with consumers, …

USA Today reports: More than 50 years after the oral contraceptive pill went on the market in the United States, the country’s first over-the-counter birth control pill will be available in stores and online nationwide later this month. Known as Opill, the birth control pill will be available without prescription necessary in major retailers and pharmacies nationwide in late March, …

The New York Times reports: The two largest pharmacy chains in the United States will start dispensing the abortion pill mifepristone this month, a step that could make access easier for some patients. Officials at CVS and Walgreens said in interviews on Friday that they had received certification to dispense mifepristone under guidelines that the Food and Drug Administration issued …

Reuters reports: Martin Shkreli, known for once hiking the price of a life-saving drug more than 4,000%, cannot return to the pharmaceutical industry after a federal appeals court on Tuesday upheld his lifetime ban. A three-judge panel of the 2nd U.S. Circuit Court of Appeals in Manhattan said a lower court judge acted properly in imposing the ban and ordering …

The New York Times reports: The decision by the Food and Drug Administration on Wednesday to approve the weight loss drug tirzepatide adds a potent new tool to the fast-growing arsenal of obesity drugs. The drug, which will go by the brand name Zepbound, contains the same compound in the sought-after diabetes drug Mounjaro. Many people have used Mounjaro off-label …

The New York Times reports: On Sunday, Rite Aid, once the largest U.S. pharmacy chain, filed for bankruptcy court protection from its creditors and vowed to remake the company as a “modern neighborhood pharmacy.” Now, in one of its first steps, it says it is closing 154 stores in more than 10 states. The branches set to be shuttered were …

NPR reports: A panel of advisers to the Centers for Disease Control and Prevention backed the broad use of new COVID-19 vaccines, as cases of the respiratory illness rise. The advisers voted 13-1 to recommend the vaccines for people ages 6 months and older. While the benefits appear to be greatest for the oldest and youngest people, the benefits of …

The Associated Press reports: The leading decongestant used by millions of Americans looking for relief from a stuffy nose is likely no better than a dummy pill, according to government experts who reviewed the latest research on the long-questioned drug ingredient. Advisers to the Food and Drug Administration voted unanimously on Tuesday against the effectiveness of the ingredient found in …

Reuters reports: Moderna on Wednesday said clinical trial data showed its updated COVID-19 vaccine will likely be effective against the highly-mutated BA.2.86 subvariant of the coronavirus that has raised fears of a resurgence of infections. The company said its shot generated an 8.7-fold increase in neutralizing antibodies in humans against BA.2.86, which is being tracked by the World Health Organization …

Reuters reports: The Biden administration on Tuesday released its list of 10 prescription medicines that will be subject to the first-ever price negotiations by the U.S. Medicare health program that covers 66 million people, with big-selling blood thinner Eliquis from Bristol Myers Squibb. President Joe Biden’s signature Inflation Reduction Act (IRA), signed into law last year, allows the Medicare health …