Hello, everyone, and nice to see you again. We have returned from an extended weekend respite, which, of course, went by all too quickly. But summer breaks are like that, yes? Well, this means, of course, that the usual routine of meetings, deadlines, and the like has resumed. We are relying more heavily than usual on some cups of stimulation to cope and invite you to join us. Meanwhile, here are some tidbits. Hope you have a productive day…
Pfizer agreed to pay $14 billion in cash for Medivation in a deal that adds the Xtandi prostate cancer drug to its product portfolio. Several other large drug makers were interested in acquiring Medivation, since it was one of the few independent companies with a cancer treatment that is selling well — Xtandi currently generates about $2 billion a year in annual sales.
Australia’s Pharmaceutical Benefits Advisory Committee declined to recommend Truvada, the HIV prevention pill, be added to the government’s Pharmaceutical Benefits Scheme, the Sydney Morning Herald reports. Cost-effectiveness was cited as one reason for the decision. This means that Gilead Sciences, which sells the drug, will have to make submit a new application later this year to be reconsidered at a March 2017 PBAC meeting.
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