A subsidiary of French in vitro diagnostics giant bioMérieux gained Medicare coverage for a new breast cancer test, a vital milestone necessary to compete in today's market.
The HHS Inspector General's office says the fine print isn't enough to safeguard against Medicare recipients' coupon use. Drugmakers have to do more--or risk violating antikickback laws.
A big no-no in the co-pay coupon world is Medicare. It's illegal to promote money-off coupons to Part D beneficiaries, because the government figures--rightly so--that the promos work to boost their brands over generics or other cheaper alternatives. But a new Inspector General's report points out that some 7% of seniors are using coupons to help cover their prescriptions.
Eli Lilly's Alzheimer's imaging agent, Amyvid, can't get very far sales-wise without coverage from the Center for Medicare and Medicaid Services (CMS). And as per a September decision, that's something it doesn't have. Now, however, it's fighting back, funding litigation it couldn't file itself.
Cancer Genetics isn't making money yet. But the New Jersey developer of DNA-based cancer diagnostics closed out its 2014 second quarter with smaller losses, some strategic acquisitions and a biomarker development partnership with AstraZeneca.
Novartis has to face a kickbacks lawsuit filed by the U.S. Department of Justice, which alleges that the Swiss drugmaker gave pharmacies discounts and rebates to boost sales of two drugs, a federal judge ruled Thursday.
Medicare spent $8.5 billion on unnecessary procedures in 2009, according to a Harvard Medical School study.
Diagnostics giant LabCorp posted another quarterly slip up, as declining reimbursements and bad weather dragged down its long-running turnaround effort.
Since last August, when the Physician Payments Sunshine Act went into effect, drugmakers and devicemakers have been logging everything they've paid out to doctors. Now, it's finally time to report all those numbers to the Centers for Medicare & Medicaid Services.
Varian Medical Systems reported yesterday that revenues during its first fiscal quarter jumped 5% from the same period a year ago to $712 million, and net income rose 3% to $98 million. The company cited particularly strong demand for its oncology products, which include equipment for performing radiosurgery and software that physicians can use in treatment planning.