Good morning, everyone, and how are you today? A bright and shiny sun is enveloping the Pharmalot campus, where the snow is piled high and the shortest of short people is sleeping in. As for us, we are considering our to-do list and brewing a needed cup of stimulation, since we anticipate another busy day. No doubt, you can relate. So time to get cracking. Here are some items of interest to get you started. Have a wonderful day and drop us a line when something interesting arises …
The health insurance giant Cigna (CI) agreed to buy the pharmacy benefit manager Express Scripts (ESRX) for $67 billion in cash and stock, including the assumption of $15 billion in debt, The New York Times reports. The transaction adds to a string of deals in the health care sector as insurers and others seek to control costs and stave off a possible challenge from Amazon. Express Scripts is the largest pharmacy benefit manager in the U.S., responsible for the drug plans of more than 80 million Americans, including on behalf of such large employers as the Department of Defense.
A federal judge pushing for a settlement of hundreds of lawsuits filed by state and local governments against opioid makers indicated that trials may be needed after both sides identified barriers to reaching a deal, according to this order. This would include so-called bellwether trials, which are essentially test cases used in mass litigation to help both sides gauge damages and determine options for reaching a settlement. There are more than 355 lawsuits blaming drug makers for helping fuel the opioid epidemic.
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Hmmm – is there a link here? “… several drug makers have been eliminating jobs in recent months. Among them are Allergan, Pfizer, and Teva Pharmaceuticals, which is undergoing a massive reorganization.”
All rotate around the failed attempt to save PFE tax $ … and so the employees pay the price for management errors. And the new tax law made it unnecessary ….. sad indeed.