Source: California wants to cap drug prices, but Big Pharma isn't having it. Amid a growing backlash over drug pricing, companies such as Johnson & Johnson ($JNJ) and Bristol-Myers Squibb ($BMY) are funneling millions of dollars into stamping out a new proposal that would curb drug spending in the state.…...
Avita Nabs $54M BARDA Contract For Ongoing Pivotal Trial, Stockpile of Burn Injury Device
Source: FierceBiotech Tiny OTC-traded micro-cap Avita Medical ($AVMXY) has won backing from the U.S. Biomedical Advanced Research and Development Authority (BARDA) of its PMA approval trial for its ReCell burn treatment device. It will get $16.9 million upfront for the study and for procurement of more than 5,000 of the…...
Forget Biotech, Follow the Pharma Dividends
Source: Biotech stocks have been one of the market’s hottest spots in recent years. But when markets get a sudden chill, as they did this month, big pharmaceutical shares are a better bet. Over the past four years, a broad index of biotech stocks has outperformed a pharmaceutical index by…...
Nine Explanations For Why The FDA Is Approving Almost Every New Drug Application
Source: Forbes Last week I wrote a post about new data from BioMedTracker that show that the Food and Drug Administration, which once approved as few as 40% of new drugs submitted by industry, has been on a green-light-almost-everything jag, approving 89% of drug applications. What’s more, a closer look…...
Q2: Big 5 Insurers Report Better-Than-Expected Earnings
Source: FierceHealthPayer The biggest for-profit health insurers continue to benefit from a low utilization trend among consumers, as most reported better-than-expected second-quarter earnings. The weak economy keeps consumers from seeing their doctors and avoiding hospitalizations, yet more people are signing up for health plans through the health insurance exchanges, Reuters…...
Drug sales expected to top $1.3T in 2018
Source: Drug sales crossed a significant metric last year. They grew past $1 trillion. And for those industry insiders thinking global sales will taper off, a new report says think again. Expect sales to top $1.3 trillion in 2018. Recent years have been full of reports about the falloff in…...
Allergan: Pharma’s Biggest Dealmaker Is On The Hunt Again
Source: At age 45, Allergan Chief Executive Brent Saunders already pulled off something like $150 billion worth of deals. Now he’s going to get ready to do it again. Last year alone Saunders was credited with an amazing $97 billion worth of mergers and acquisitions – sometimes as buyer, sometimes…...
Anacor Prescription Lotion Clears Skin Rash in Late-Stage Test
Source: An experimental topical lotion developed by Anacor Pharmaceuticals (ANAC) cleared eczema skin rash better than a placebo, according to results from two late-stage clinical trials announced Monday. Anacor intends to seek U.S. approval for the lotion, known as crisaborole, in the first half of next year, based on the…...
These Are the Fortune 500’s Fastest-Growing Pharma Companies
Source: New drugs and smart acquisitions have helped Gilead, Celgene and other pharma giants deliver rapid growth. The pharmaceutical industry has been rocked in recent years by a confluence of patent expirations of blockbuster drugs, increasing competition from generics and new governmental and industry efforts to control costs the world…...
Allergan to Buy Kythera Biopharmaceuticals for $2.1 Billion
Source: Allergan Plc, the maker of wrinkle treatment Botox, agreed to buy Kythera Biopharmaceuticals Inc. for about $2.1 billion to add treatments for double chins and male pattern baldness. The cash and stock transaction values Kythera at $75 a share, the companies said Wednesday in a statement. That's about 24…...