Keyword: Concordia Healthcare
With news of a refinancing and management change, Concordia shares plunged deeper into penny-stock territory.
U.K. antitrust watchdogs are targeting Concordia and its pricing for liothyonine, a thyroid drug that now costs 57 times more than it did in 2006.
Concordia Internationa today reported a $1.3 billion loss—$25.76 per share—on $816 million in revenue after taking a $1.1 billion impairment charge.
The allegations are adding up against the former Actavis unit in the U.K.
Hefty drug price increases have been an outrage-provoking subject for politicians, the public and pharmacy benefits managers all year long. But another group besides drugmakers has been benefiting from them: dealmakers.
Another disciple of Valeant and its price-hiking credo is bidding farewell to its CEO.
It’s time for drugmakers to stop relying so much on price increases to grow sales. That’s not a politician speaking; it’s influential Goldman Sachs analyst Jami Rubin, who flagged Jazz, Horizon and Concordia as most dependent on price hikes for growth. Least? That would be Lilly, Regeneron and Gilead.
Note to price-hiking drugmakers: CVS Health is targeting you. The PBM barred 10 new meds from its 2017 formulary for "egregious" price increases, and even more could get the boot.
Concordia can add trouble with a short seller to the list of things it wishes it didn’t share in common with Valeant Pharmaceuticals.
Valeant and fellow Canadian pharma Concordia Healthcare share a similar appetite for M&A. Another thing the two companies have in common? A zest for dramatic drug price increases on older meds.