Good morning, everyone, and welcome to another working week. We hope the weekend respite was relaxing and invigorating because the time has come, once again, to greet the to-do list of meetings, deadlines, and whatnot. There is only one way to cope with this — a few cups of stimulation, and we invite you to join us. We are indulging in Pumpkin Spice, for those keeping track. As always, here are a few tidbits to help you along. Hope you have a smashing day and do keep us in mind if you hear something interesting. We also accept secret documents …
Drug shortages are the “new normal” as the American Society of Health-System Pharmacists lists inadequate supplies of more than 150 treatments due to manufacturing problems, regulatory crackdowns on safety issues, and drug makers abandoning low-margin meds, The New York Times writes. Not surprisingly, the shortages are causing rationing, but the effect has largely been hidden from public view.
Bristol-Myers Squibb chief executive Giovanni Caforio defended the company’s first TV campaign for its Opdivo cancer drug after analysts questioned whether the ads are useful, Medical Marketing & Media says. Prescriptions and sales of such drugs are expected to grow whether or not the company promoted the drug to patients. Caforio believes the ads are warranted due to a “long history of treatments that have not delivered significant value to patients with lung cancer.”
The NASDAQ Biotechnology Index lost 21 percent in January, which was the third-worst monthly performance in its history, according to TheStreet, which notes just eight stocks closed higher than where they finished 2015.
Hillary Clinton has a plan to lower prescription drug costs, and, in part, this relies on generics, but this may raise a problem if the cost of some generics continues to rise, Bloomberg News writes.
House Oversight and Government Committee Chairman Jason Chaffetz expects Martin Shkreli to testify at a Thursday hearing on prescription drug prices, according to The Hill.
A recent batch of warning letters issued to Chinese ingredients and finished formulation makers reflects increased regulatory oversight, a Food and Drug Administration spokesman tells InPharma Technologist.
A high-level task force asked the Indian government to provide incentives on infrastructure to boost domestic production of active pharmaceutical ingredients in the country, PharmaBiz says.