U.S. FDA pulls up Walgreens for violating tobacco sale laws by selling to minors

U.S. FDA pulls up Walgreens for violating tobacco sale laws by selling to minors
(Reuters) – The U.S. Food and Drug Administration said on Thursday it was taking action against certain retailers including Walgreen Boots Alliance for repeatedly flouting tobacco sale rules, including sale of cigars and menthol cigarettes to minors. FILE PHOTO: The Walgreens logo is seen outside the store in Times Square in New York, U.S., July 5, 2016. REUTERS/Shannon Stapleton/File Photo... Read More

Novartis CEO lauds Trump administration plan to overhaul rebates

Novartis CEO lauds Trump administration plan to overhaul rebates
ZURICH (Reuters) – Novartis AG Chief Executive Vas Narasimhan said his company’s prescription drug prices have been “flat to negative” over the last three years, and directed blame for high costs for U.S. patients on industry middlemen that manage drug benefits. FILE PHOTO: CEO Vas Narasimhan of Swiss drugmaker Novartis addresses the company’s annual news conference in Basel, Switzerland January... Read More

At least four pharma CEOs to testify at Senate drug pricing hearing

At least four pharma CEOs to testify at Senate drug pricing hearing
NEW YORK (Reuters) – Drugmakers Pfizer Inc, Bristol-Myers Squibb Co and Sanofi SA said on Wednesday that their chief executives plan to testify at a Senate hearing on rising prescription drug prices later this month. FILE PHOTO: Sanofi’s Chief Executive Officer Olivier Brandicourt attends the company’s shareholders meeting in Paris, France, May 2, 2018. REUTERS/Charles Platiau/File Photo They join Merck... Read More

Novartis CEO says U.S. rebate plan will return cash to patients

Novartis CEO says U.S. rebate plan will return cash to patients
ZURICH (Reuters) – Novartis AG Chief Executive Vas Narasimhan said his company’s prescription drug prices have been “flat to negative” over the last three years, and directed blame for high costs for U.S. patients on industry middlemen that manage drug benefits. FILE PHOTO: CEO Vas Narasimhan of Swiss drugmaker Novartis addresses the company’s annual news conference in Basel, Switzerland January... Read More

Exclusive: Facing crackdown in Canada, drugmakers offered billions in price cuts

Exclusive: Facing crackdown in Canada, drugmakers offered billions in price cuts
TORONTO (Reuters) – Canadian pharmaceutical industry lobby groups, in an effort to head off a planned crackdown on prescription drug prices, offered to give up C$8.6 billion ($6.6 billion) in revenue over 10 years, freeze prices or reduce the cost of treating rare diseases, according to interviews and documents seen by Reuters. FILE PHOTO: A pharmacist counts pills in a... Read More

Merck CEO Frazier to testify at Senate drug pricing hearing

Merck CEO Frazier to testify at Senate drug pricing hearing
NEW YORK/WASHINGTON (Reuters) – U.S. drugmaker Merck & Co Inc said on Tuesday that its Chief Executive Ken Frazier plans to testify at a Senate hearing later this month examining rising prescription drug prices. FILE PHOTO: Ken Frazier, Chairman and CEO, Merck & Co., speaks during a meeting of the Economic Club of New York in New York City, U.S.,... Read More

U.S. jury orders Takeda to pay Bayer $155 million over hemophilia drug

U.S. jury orders Takeda to pay Bayer $155 million over hemophilia drug
(Reuters) – A U.S. jury has ordered Takeda Pharmaceutical Co’s Baxalta unit to pay Bayer AG $155.19 million for infringing a patent related to a Baxalta hemophilia treatment, court records made public on Tuesday show. FILE PHOTO: A Takeda logo is seen in its research hub in Cambridge, Massachusetts, U.S., November 26, 2018. Picture taken November 26, 2018. REUTERS/Julie Steenhuysen... Read More

Appaloosa steps up pressure on Allergan to split chairman, CEO roles

Appaloosa steps up pressure on Allergan to split chairman, CEO roles
BOSTON (Reuters) – Hedge fund Appaloosa LP on Tuesday urged pharmaceutical company Allergan PLC (AGN.N) to split its chairman and chief executive roles, arguing that an independent chair could help boost the company’s sagging share price. FILE PHOTO – The Allergan logo is seen in this photo illustration in Singapore November 23, 2015. REUTERS/Thomas White/File Photo Appaloosa’s billionaire founder David... Read More