Rise and shine, everyone, another busy day is on the way. And there are a lot of busy days lately, yes? Well, what can you do except to try coping with a few cups of delightful stimulation. After all, firing up the neurons can be helpful. To do so, we reached for cherry chocolate decadence for those keeping track of such things. Meanwhile, we have assembled another menu of tidbits to help you along. As always, we hope you have a smashing day and, once again, invite you to keep in touch. We enjoy those secret documents …
Celgene (CELG) announced an additional $3 billion share buyback program, and plans to execute a $2 billion accelerated buyback as part of the new effort. The move comes as shares in the biotech has fallen more than 25 percent this year, while the S&P 500 has gained more than 2 percent. Over the past year, Celgene has faced regulatory and clinical setbacks and, last fall, unexpectedly cut its financial guidance, all of which have shaken investor confidence. More recently, two top Celgene executives departed.
The Senate health committee plans to vote on a bill next month banning “gag clauses” that can hide potential savings on prescriptions from consumers at the pharmacy counter, The Hill tells us. The bill would ban clauses in contracts between pharmacies, insurers, and middlemen that keep pharmacies from proactively telling customers they could save money on a prescription if they paid out of pocket instead of through insurance. And it would apply to plans offered through the individual market and by private employers.
About the Author Reprints
Our scribe has a gift for understatement. To say “Pfizer has experienced numerous problems with Hospira” is like saying the US Navy “had difficulties” with Imperial Japan at Pearl Harbor on 07 DEC 1941.
It would also seem that Miles White could clearly see the future back in 2002 when the spin-off was first conceived, albeit not announced until 2003. (D__n, was it 15 years ago already? How time flies ….)