pharmaceutical industry

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Sanders Demands to Know Why Drug Went From Free to $375K

The medication, Firdapse, treats a rare neuromuscular disease

(Newser) - Calling it corporate greed, Bernie Sanders wants a pharmaceutical company's justification for why it charges $375,000 per year for a drug that used to be free. "I am profoundly concerned that Catalyst's actions will cause patients to suffer or die," the Vermont senator and possible...

More Drugs Recalled Due to Cancer Risk

Aurobindo Pharma USA, Inc., recalls valsartan tablets

(Newser) - The recall of blood pressure medications due to possible risk of cancer is expanding again. Aurobindo Pharma USA, Inc., is voluntarily recalling 80 lots of its valsartan tablets "due to the detection of trace amounts of an unexpected impurity found in the finished drug product," per an FDA...

Pharma Giant Unveils New Plan Despite Trump Slam

Pfizer is raising prices on 10% of its drugs

(Newser) - Give it to Pfizer—they waited a while. The pharmaceutical giant is raising the price of 41 prescription drugs after hitting the pause button this summer when President Trump opposed a price hike, reports CNBC . Most prices are slated to rise 5%, while Stocks Beat says the pain drug Lyrica...

Pharma Exec on 400% Drug Price Jump: 'Moral Requirement'

Nirmal Mulye defends move, says he's in the drug business 'to make money'

(Newser) - The founder and president of a pharmaceutical company that last month raised the price of an "essential" antibiotic from $474.75 per bottle to $2,392 per bottle tells the Financial Times the 400% increase was not only justifiable but morally imperative. "I think it is a moral...

Trump Tweeted Pfizer Should Be 'Ashamed.' Pfizer Responds

After meeting between Trump and Pfizer CEO Ian Read, company says it will defer price hikes

(Newser) - Last week, Pfizer jacked up the price for several dozen prescription drugs; this week it received a dressing down from President Trump. Now, per the Wall Street Journal , the pharmaceuticals giant has responded to his criticism with a postponement on those price hikes after the company said CEO Ian Read...

Amazon Just Made a Big Move That Might Worry CVS

Jeff Bezos is buying PillPack, an online pharmacy that dispenses prescription drugs

(Newser) - There's a reason shares of CVS, Walgreens, and Rite Aid were tumbling Thursday, and it can be summed up in one word: Amazon. The retailing behemoth made its first significant move into the pharmacy business by buying PillPack, an online company that ships medications to customers' homes, reports the...

Company Sold $1.3B of a Drug That's Not Hugely Effective

Inside New York state's pushback against Orkambi

(Newser) - Only 28,000 of the planet's 7 billion people are eligible to take the cystic fibrosis drug Orkambi. And yet that tiny population enabled drugmaker Vertex to make roughly $1.3 billion in sales off the product. How does that math work out? The annual price of the drug...

FDA Approves Potential Migraine Game-Changer

Monthly injection reduces migraine frequency without major side effects

(Newser) - "Progress, but not a panacea." So proclaims an editorial in journal JAMA on Aimovig, a first-of-its-kind drug purported to prevent chronic migraines without many side effects that was on Thursday approved by the FDA. The drug from Amgen and Novartis, and similar ones in their final stages, "...

'Pharma Bro' Faces High-Stakes Sentencing

Prosecutors want Shkreli to get 15 years

(Newser) - Is "Pharma Bro" Martin Shkreli a master manipulator who conned wealthy investors or a misunderstood eccentric who used unconventional means to make those same investors even wealthier? A federal judge in Brooklyn will have to weigh the conflicting portrayals of the former pharmaceutical company CEO on Friday at his...

Sufferers of Rare Disease Get Lesson in US Drug Economics

Generic versions of old drugs don't always mean deep discounts

(Newser) - Sufferers of Wilson disease, a rare condition that causes copper to build up in the body, were excited by the announcement of a generic version of the 50-year-old drug they use to treat the condition. Then they heard the price tag: $18,375 for a 100-pill bottle. "I had...

Stuck With Leftover Opioids? Walmart Has a Solution

Walmart to offer first-of-its-kind product to customers

(Newser) - Walmart is helping customers get rid of leftover opioids by giving them packets that turn the addictive painkillers into a useless gel. The retail giant announced Wednesday that it will provide the packets free with opioid prescriptions filled at its 4,700 US pharmacies. The small packets, made by DisposeRx...

Search for Alzheimer's Treatment Is Dealt a Blow

Pfizer announced R&D on new drugs will cease

(Newser) - The Alzheimer's Association estimates that more than 5 million Americans are living with the disease—and that by 2050, that count could triple. But Pfizer on Saturday announced it's getting out of the Alzheimer's game, at least when it comes to researching potential new drugs. The company...

Cancer Drug Price Rises 1,400% in Just 4 Years

'Wall Street Journal' examines the jump from $50 a pill to $768 for lomustine

(Newser) - The Wall Street Journal illustrates the continuing problem of soaring drug prices by zeroing in on a cancer drug called lomustine. Used to treat brain tumors and Hodgkin lymphoma, the drug sold for about $50 a pill under the brand name CeeNU as recently as 2013. Then owner Bristol-Myers Squibb...

Let an Anarchist Teach You to Make Your Own Medicine
Can't Afford Life-Saving
Medicine? Just Make Your Own
IN CASE YOU MISSED IT
Oct 15, 2017 6:32 AM CDT

Can't Afford Life-Saving Medicine? Just Make Your Own

Anarchist is leading push to upend the pharmaceutical industry

(Newser) - Don't have $600 to spare for a two-pack of EpiPens? Michael Laufer will show you how to make your own for $35. Need a cure for hepatitis C but don't have $84,000 laying around for Sovaldi? The anarchist says his DIY version will run you $800 or...

At Own Trial, 'Biggest Mouth' in Pharma Finally Closes

Martin Shkreli says he decided against 'risky' move, won't testify

(Newser) - Earlier this month, prosecutors wanted Martin Shkreli to stop the "campaign of disruption" they say he'd been leading during his securities fraud trial, and they were able to get a judge to order him to stop blabbing about his case publicly. Now it looks like those sealed lips...

The &#39;Open Secret&#39; About Drug Expiration Dates
The 'Open Secret' About
Drug Expiration Dates
IN CASE YOU MISSED IT
Jul 23, 2017 11:22 AM CDT

The 'Open Secret' About Drug Expiration Dates

They may still be effective years after they expire, researchers say

(Newser) - Pharmacists who cringe when they have to toss expensive drugs once they expire may be interested to hear this drug dump may be unnecessary—and may be a contributing factor to big waste in the medical industry (estimated to be $765 billion a year), as well as the overall high...

Lady Gaga Cited Not Once, but Twice in Shkreli Trial Opening

Shkreli was simply 'born this way,' defense attorney argues about eccentric client

(Newser) - Is Martin Shkreli "strange" and "weird," with a "dysfunctional personality"? Yes on all counts, per Benjamin Brafman, the ex-pharma CEO's lawyer, who offered what the New York Times calls a "captivating" opening statement at Shkreli's securities fraud trial Wednesday in New York...

Report: Doctors Getting Pharma Money Prescribe More Brand-Name Drugs

New analysis finally proves the 'prevailing wisdom'

(Newser) - It certainly seems like doctors who take money from pharmaceutical companies would prescribe more brand-name drugs, but there's never been proof of that. That is until an extensive analysis by ProPublica , which found that the more pharmaceutical money a doctor accepts, the more brand-name medicines they prescribe to patients....

Martin Shkreli Celebrates Price Hike in Newly Released Emails

'$1 bn here we come'

(Newser) - Documents and emails released Tuesday by congressional investigators show "pharma bro" and Internet villain Martin Shkreli "giddily rubbing his palms together at the prospect of all the money Daraprim will generate," as NPR puts it. Shkreli and his company, Turing Pharmaceuticals, acquired the drug Daraprim—frequently used...

It's Not Just Shkreli Who's Been Hiking Drug Prices

Lots of drugmakers did it around Jan. 1—some up to 20%, per analyst reports

(Newser) - Martin Shkreli attracted no small amount of scorn for jacking drug costs, but he's far from alone. Plenty of other drugmakers have been guilty of hikes, many just since late December, claiming they need to do so to fund "risky" research, the Wall Street Journal reports. Analysts...

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