In the first half of 2012 alone, a record year for both federal and state financial recoveries, there were $5 billion and $1.6 billion in settlements, respectively. Three of the 10 largest settlements and judgments in the 20-month period were single-state settlements. The report's researchers were unable to determine what prompted some states to take actions individually, and while federal penalties still make up the bulk of the cost to pharma, aggressive states have clearly added to the litigation risk for drugmakers. Click here to check out the full report >>
This report points to some of the most significant events in the effort to address counterfeiting to have occurred this year. Maybe you know of others not mentioned. It would be great if the report could start a public discussion of what steps need to be emphasized next because there is little question that more needs to be done and it is best if it is done with some forethought. Click here to check out the full report >>
Some of the biggest blockbusters known to the pharma industry have been swept off the patent cliff and tumbled into the brutal land of generic therapies, where low-priced competition awaits to chop up markets. Barring the development of new megablockbusters this list is likely to remain stable for some time. That's positive for the companies and their investors. It will also help fund major R&D operations around the globe. And the drive to improve performance should continue to drive innovation. Click here to check out the full report >>
While the grand party in direct-to-consumer (DTC) advertising may have peaked about 5 years ago, it remains an important method of marketing drugs. The industry last year spent $2.4 billion on television ads, according to Nielsen. That is a 23% drop from the $3.1 billion spent in 2007. Click here to view the full report >>
For generics makers, Big Pharma's patent cliff is more like a mountain. With preparation and drive and some luck, companies that specialize in copycat drugs can climb from one newly off-patent blockbuster to another, adding millions in sales along the way. Plus, branded drugmakers have been diversifying to make up for plummeting sales of their no-longer-exclusive megadrugs. Sometimes, that means joining hands with their generics-making rivals, often to take advantage of their low-cost production and broad access to markets in the developing world. That's a double dose of growth serum for generics makers.
FiercePharma will honor the day by taking a break. We'll be back Thursday with more from the world of drugs and drugmaking.
Last week, when we unveiled our Top 10 Pharma Settlements report, we promised to update it as new deals hit the news. We didn't realize we'd need to fulfill that promise so quickly. Today, GlaxoSmithKline officially announced its $3 billion settlement, which puts it squarely on top of that list.
The Justice Department is growing more and more impatient. For more than a decade, its lawyers and investigators have been slapping drugmakers around for their marketing misdoings. They've insisted on bigger and bigger penalties, especially during the last several years, with payments commonly topping $500 million. And yet the whistleblower lawsuits and off-label settlements keep coming.
With drugmakers flocking to lucrative drug markets for specialty care drugs, the bar has risen to get reimbursement and physician uptake of the expensive products. But there are ways to hedge bets in the specialty care game. We covered several such strategies during a panel I moderated at the 2012 BIO International Convention called "Are Healthcare Reimbursement Policies a Barrier to Specialty Care Treatment?" The easy answer to this question is "yes."
The FiercePharma team will be relocating to Boston next week for the BIO 2012 International Convention. We are bringing a team of 15 to the show and we'll have daily coverage of the week's events.