
And so, another working week is about to draw to a close. Not a moment too soon, yes? After a busy few days, this is an opportunity to start daydreaming about weekend plans. Our agenda is rather modest. We plan to shepherd one of the short people to an institution of higher learning. And that’s about all. But what about you? Summer is not over yet, so why not enjoy the great outdoors? Or catch up with someone special? Or maybe take stock of your life? Well, whatever you do, have a grand time, but be safe. See you soon …
An EpiPen round-up: You can watch what Mylan Pharmaceuticals chief executive Heather Bresch had to say for herself Thursday on CNBC right here; yet STAT notes there are five good questions Bresch has yet to answer; the controversy largely erupted this summer as parents used social media to stoke outrage, the New York Times notes; and Sen. Joe Manchin (D-W.Va.), who is Bresch’s father, said he is concerned about “skyrocketing prices” for medicines, according to the Wall Street Journal.
Meanwhile, Sarah Jessica Parker has ended her relationship as a paid spokeswoman for Mylan “as a direct result” of the price increases for EpiPen, STAT reports. She wrote on her Instagram account that she was “disappointed, saddened and deeply concerned by Mylan’s actions” and called on the company to “take swift action to lower the cost to be more affordable for whom it is a life-saving necessity.”
An Amgen drug to treat a thyroid condition was rejected by the US Food and Drug Administration on Wednesday, but the company never explained publicly why the marketing application was denied, TheStreet points out. By contrast, the biotech had touted upbeat prospects of the drug, which is known as Parsabiv, to investors as it cleared several late-stage clinical trials.
The Illinois attorney general filed a lawsuit accusing Insys Therapeutics of deceptively marketing and selling its Subsys opioid painkiller, which is intended to treat cancer pain, to doctors for off-label uses, Reuters reports. The move comes as the company faces several state and federal investigations. And two months ago, two former Insys sales reps were arrested and charged with violating federal kickback laws.
Pfizer’s Hospira and Napp Pharmaceuticals broke rules covering the promotion of biosimilar medicines, BioPharma Reporter writes, citing the Association of British Pharmaceutical Industries. The trade group determined that Rapp made “unacceptable payments” to doctors who attended a meeting at which a biosimilar version of Remicade was discussed. And Hospira was chastised for holding a meeting inappropriately billed as an advisory board gathering.
Theranos plans to appeal a decision made last month by regulators to revoke its license to operate a lab in California because of unsafe practices, the Wall Street Journal reports.
An experimental Novartis multiple sclerosis drug called siponimod hit its key target in a late-stage trial, according to PharmaTimes.
The FDA warned Unimark Remedies about unsanitary conditions at its facility in India, according to InPharma Technologist.
Mylan Pharmaceuticals and Biocon filed an application in Europe to sell a biosimilar version of Roche’s Herceptin breast cancer treatment, Pharmaphorum writes.
Seem the pharmacy industry has managed to corner the life boat concession on the Titanic and has elected to provide only two life boats and over booked the seating.
Bit of advice from a long ago MBA marketing class: Don’t p*ss off (or on) your market base.
If Hillary Clinton wins it will be beneficial for the 35,000 employees of Mylan. This is because Mylan will have to institute a companywide profit sharing plan in order to increase workers compensation. That’s called being a stakeholder. Let’s see how loud the anti Mylan voices will be from people whose incomes will be raised under their own companies profit sharing plan now that they will have more disposable income.
Also anybody who thinks Mylan is pocketing the entire $610 from a pair of Epipens is sorely mistaken. Pharma is a business where everybody has their hands in the stew. The following entities make a total of approximately $320 off of every Epipen Rx:
1) the pharmacy
2) the distributor
3) the PBM
3 the insurance company
After everybody gets their cut Mylan nets about $290/rx, or about 48% of list price.
None of that changes the dynamics or justifications offered for the exorbitant price increases throughout the industry.