Good morning, everyone, and how are you today? We are just fine, thank you, especially with a bright, shiny sun and delicious breeze enveloping the Pharmalot campus. From our perch, we can see petals from cherry blossom trees wafting by and hear the persistent sounds of a woodpecker embracing a nearby building. But enough with distractions. Time to get cracking. Here are some tidbits to help you along. Hope you have a smashing day …
Perrigo disclosed the Department of Justice, armed with search warrants, raided its corporate offices as part of an ongoing investigation related to drug pricing in the pharmaceutical industry. As previously noted, the Justice Department antitrust division is looking at industry-wide pricing practices. Perrigo would only say it’s taking the investigation seriously and is cooperating with the appropriate authorities.
AstraZeneca won Food and Drug Administration approval of its key immunotherapy drug, durvalumab, for treating bladder cancer, Reuters reports. The approval, while expected, marks a milestone for the company, which expects new cancer drugs to help revive its fortunes following patent losses on older blockbuster products like the Crestor cholesterol pill and the Nexium heartburn pill.
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Very interesting coincidence – Justice Department raids Perrigo … and former CEO seeks ‘name change’ (ok, at Valeant). An attempt, perhaps, to disappear from the prosecutorial view? Just pure coincidence, of course ….