The media blitz over jacked-up drug prices and concerns over slowing growth in China may have temporarily kicked the breath out of pharma valuations, but some analysts think the concerns will be short-lived and a return to growth is inevitable.
Valeant's stock has been slipping on drug-pricing worries, and one-time deal partner and company enthusiast Bill Ackman has certainly taken note. His hedge fund, Pershing Square Holding, recorded a 12.5% loss last month, Reuters reports, with news that lawmakers are looking into Valeant price hikes on a pair of older meds spooking investors.
Right now, Novartis' Sandoz has the only biosimilar on the U.S. market. And it's looking to make it two.
Generic makers have had just about enough with branded drugmakers tweaking aging meds to hold on to sales, with some arguing in court that the move is inherently anticompetitive. Now the FTC is wading into the debate, saying that pharma companies that make small changes to brand-name products to ward off competition from cheaper copycats may be violating antitrust laws.
BioMarin Pharmaceutical bet more than half a billion dollars on the rare disease phenylketonuria Thursday. The U.S.-based biotech will pay its development partner Merck KGaA €340 million up front for worldwide rights to Kuvan (excluding Japan), plus €60 million more in sales-related milestone payments.
Bristol-Myers Squibb continued its immuno-therapy march today with a combo approval in melanoma. The pairing of its older med Yervoy and new PD-1 cancer-fighter Opdivo won the FDA's green light for patients with advanced melanoma and a particular genetic variation.
Last month, names like Sanofi, Pfizer, Abbott and Takeda were flying around as potential suitors for Mexico-based Representaciones e Investigaciones Medicas, aka Rimsa. But it's Teva that's emerged victorious in the field.
Turns out, pharmacy benefits managers are doing fine at controlling their costs for the new generation of cholesterol drugs. How? By limiting scripts to patients who are actually eligible for the PCSK9 meds, which carry list prices of more than $14,000.
Roche has been facing pricing pushback for its breast cancer drug Kadcyla in the U.K., with the country's cost watchdog nixing the med last year and the Cancer Drugs Fund recently rejecting it from its covered list. Now, patients are voicing their discontent, calling on Britain's health minister to override the company's Kadcyla patents and open the door for lower-priced copies.
Novartis is chasing a pair of new uses for brand-new psoriasis med Cosentyx, and when it comes to psoriatic arthritis, it's piling up the positive data.
The U.S. Patent and Trademark Office's review board has dealt its first blow to Big Pharma. The appeal panel nixed a patent on Novartis' multiple sclerosis blockbuster Gilenya, handing a win to challenger Torrent Pharmaceuticals--and fellow generics makers Mylan and Apotex, which had filed a separate challenge.
Roche's experimental therapy, ocrelizumab, recently posted positive Phase III data in patients with primary progressive multiple sclerosis, a less common form of the disease--affecting about 10% to 20% of sufferers--that right now remains untreated.
Lately, Latin America has been leading the growth ranks for Merck KGaA's consumer health unit. And that's not set to change anytime soon, its leader says.
Turing Pharmaceuticals CEO Martin Shkreli's 15 minutes of infamy aren't over yet, thanks to presidential candidate Hillary Clinton. In a new campaign ad airing this week, Clinton makes Shkreli the "star," interspersing an image of his face from a Today Show interview with newscast snippets about his outrageous Daraprim price hike--and Clinton's responding proposals, of course.
New oral anticoagulants--such as Johnson & Johnson's Xarelto and Boehringer Ingelheim's Pradaxa--have been in fierce competition with one another for awhile now. But they still have a ways to go to displace the old-guard therapy warfarin--and one GlobalData analyst thinks she knows why.
Amid growing backlash from state and local lawmakers over opioid marketing, New Hampshire is cracking down on several companies marketing the drugs, claiming that the drugmakers intentionally exaggerated their products' benefits while downplaying serious risks.
With pharma's U.S. pricing power apparently in jeopardy, industry watchers are worried. Just take a look at drug stocks' performance over the past week or so, as a firestorm over an enormous price increase by one drugmaker--Turing Pharmaceuticals--inspired political promises and public rancor.
What will Allergan look like after it hives off its generics unit to Teva Pharmaceutical Industries? The company unveiled some new numbers on that score Monday. And while the company's status as a potential top 10 pharma company proved short-lived, it's still looking for a growth rate that outpaces its Big Pharma peers.
Payers unhappy with the cost of new PCSK9 drugs are getting some ammo, as top U.S. physicians are recommending against using the drugs in a large patient pool.
Pfizer CEO Ian Read isn't too worried about proposals to crack down on U.S. drug pricing. Presidential candidate Hillary Clinton's slate of new measures--which include negotiating power for Medicare--aren't likely to pass muster in Congress, Read told Evercore ISI analyst Mark Schoenebaum.