Biography for Eric Palmer
Eric Palmer, Senior Editor
Eric Palmer is a business and technology journalist with more than three decades of prize-winning experience as a reporter and editor with daily, weekly, monthly and online publications. He was healthcare reporter for The Kansas City Star before becoming deputy business editor for the daily newspaper. He spent eight years as editor of The Kansas City Business Journal, which had a strong emphasis on the healthcare industry. On the personal side, he is an avid fly fisherman, cooks and collects wine, and likes to travel with his family. Eric is based in Kansas City and can be reached at firstname.lastname@example.org.
Articles by Eric Palmer
It was attention-grabbing when California sued a handful of drugmakers, accusing them of lying about the safety of their high-powered painkillers and blaming them for an epidemic of prescription drug overdoses and a resurgence in heroin use. But from a legal standpoint, a California judge has ruled, there is not much there to stand on.
Celgene Thursday reported that it had completed its $7.2 billion buyout of Receptos. Celgene agreed to pay $232 per share for the San Diego-headquartered company, a nearly 18% premium.
Mylan's shareholders think it is a dandy idea to continue to pursue a takeover of Perrigo. Two thirds of those who voted today favored pursuing the buyout of over-the-counter specialist despite the adamant opposition to the deal from Perrigo CEO Joseph Papa and his board.
With a game-changing oral diabetes treatment moving through clinical trials, Novo Nordisk will spend about $1.2 billion on its first API plant in the U.S., a project that is expected to bring 700 jobs. As part of the 5-year project, it will also expand a plant in Denmark.
Hep C drugs like Gilead Sciences' Sovaldi and AbbVie's Viekira Pak can cure hepatitis C, preventing people from getting liver disease. But in some states like Illinois, a person on Medicaid can't get Sovaldi unless they already have advanced liver disease. Even then, other restrictions can block them from access to the pricey meds. This kind of rationing is to save money, not lives, and is discriminatory White House medical advisors have told the administration. Experts have urged a reluctant administration to lay down some consistent guidelines for Medicaid on use of the new drugs.
With approvals in the U.S and Europe expected soon, it looked like Takeda would have time to get its new multiple myeloma treatment into the market before patents fell off of blockbuster Velcade in 2022. But CEO Christophe Weber may need to plot a new strategy after a federal judge overturned a key patent, putting the Japanese drugmaker's drug vulnerable to generics 5 years early.
The first half of the year has provided a good ride for Big Pharma and its investors with indices up in the U.S. and Europe. Even Japanese drugmakers avoided the side effects of China's stock market meltdown and saw values rise 23%. But, of course, averages come from the highs and the lows and some players have actually seen share price declines during this bull market.
The evidence is mounting that when it comes to drug prices, Americans have had enough and are not going to take it anymore.
While data on the heart and stroke risks of testosterone enhancers have been mixed, the FDA has held firm on its position that "Low T" drugs should be used only for medical conditions not as a lifestyle drugs. Now the FDA says drugmakers need to provide new data on the heart and stroke risks of using them to boost testosterone in aging men. But, to save everybody a lot of time, effort and cost, it would be great if the drugmakers would do the clinical trial work together.
The decision of GlaxoSmithKline CEO Andrew Witty to double down on consumer health products has not been very popular with some investors, who question the strategy of focusing on low-margin, high-volume products like toothpaste. Well, Witty has a whole lot less toothpaste to sell right now, since GSK has recalled more than 3.9 million tubes that may have more than whitener in them.