Good morning, everyone, and how are you today? We are just fine, thank you, although rushing about as we juggle a busy day of speaking, meetings and the usual whatnot. So please join us as we quickly quaff cups of stimulation and run for a train. Hope your day is smashing and you conquer the world. Meanwhile, do stay in touch …
Novartis reached deals with two insurers, Aetna and Cigna, on a so-called performance-based price for the new Entresto treatment for heart failure, Reuters says. The agreement is one of the few such deals that have been made public by drug makers and managed care companies, which are increasingly looking for ways to link the price of a drug to specific health outcomes in hopes of reducing spending on prescription drugs.
Pfizer disclosed its new management lineup as the drug maker plans for the closing later this year of its $160 billion purchase of Allergan, Reuters writes. Geno Germano, group president of Pfizer’s global innovative pharma business, will be leaving while Bill Meury, executive vice president and president of branded drugs at Allergan, will become group president of the new unit, which will be called global specialty and consumer brands.
Eisai, which is one of the largest drug makers in Japan, has agreed to sell active pharmaceutical ingredients to domestic generic drug companies, according to The Nikkei Asian Review. The move comes as the government wants generics to account for at least 80 percent of medications by 2020. For its part, Eisai expects to generate billions of dollars a year in sales between now and then.
Johnson & Johnson violated the Sudanese Sanctions Regulations, The National Law Review tells us. While there is no monetary penalty, the company will not be eligible for a 25 percent reduction for any violations that may occur over the next five years. The US Treasury Department noted that the head of J&J’s mideast unit did not have sufficient compliance training at the time the infraction occurred in 2010.
Sanofi stock slid to its lowest level in two years after the drug maker disclosed that profits will not grow much this year due to competition for its best-selling Lantus insulin, Bloomberg News reports.
The US Food and Drug Administration has rejected more than 13,000 products made in India and more than 15,000 from China between 2010 and 2015, The Times of India says.
Biopharmaceutical contract manufacturing in the US is now as hot as any time in the past 10 years, according to Outsourcing Pharma.
Many of the largest US pharmacies are now mail and specialty businesses operated by pharmacy benefits managers and payers, such as CVS Caremark, Express Scripts, and UnitedHealth, Drug Channels reports.