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Drugmakers would have leverage over pharmacy benefit managers (PBMs) under a proposed California bill that would force PBMs to disclose information on the payments and discounts they receive from manufacturers, according to a national PBM trade group.
French drugmaker Aventis’ acceptance of Sanofi-Synthelabo’s improved stock-and-cash bid is part of a larger market trend being driven by increasing concern over pricing issues, according to industry analysts.
Continuing the robust growth trend of recent quarters, generic drugmakers last week reported double-digit sales increases in the first three months of 2004. Firms releasing quarterly earnings included:
Legal experts speaking at a recent industry conference warned drugmakers not to “get ahead of the FDA” in making safety and efficacy claims about pipeline products in light of recent changes in the way the agency and the Securities and Exchange Commission (SEC) share confidential information about drug approval procedures.
Merck and Novartis are planning to offer assistance — including free drugs — to some low-income seniors under the new Medicare discount drug program set to take effect in June.
With few exceptions, brand firms this week reported positive sales and revenue growth in the first quarter of 2004, with giants like Pfizer and Eli Lilly posting double-digit gains.
Apotex’s generic version of GlaxoSmithKline’s antidepressant Paxil (paroxetine HCl) garnered sales of only about $150 million to $200 million during its 180-day exclusivity period — a return far smaller than what it had expected because of an authorized generic competitor.
The parent company of generic firm Par Pharmaceuticals on April 13 said it would acquire generic firm Kali Laboratories for $135 million — a move that more than doubles Par’s research and development capabilities.
Mylan Laboratories has escaped from its roller-coaster ride in the multidistrict average wholesale price (AWP) litigation pending in a federal court in Massachusetts, the company said April 12.
Big pharma has successfully persuaded 24 states to amend Medicaid laws to exempt expensive therapeutic drug classes from substitution rules requiring doctors to prescribe lower-priced alternatives, according to a generic drug executive who says the situation hurts the generic industry and state coffers.