The Sacklers, the billionaire family that owns Purdue Pharma, discussed selling the company in 2000, the Wall Street Journal reports, citing court documents made public May 7.
Pharmacy
Nostrum Laboratories, a drugmaker based in Kansas City, Mo., raised the price of its prescription cold remedy by 326 percent at the end of April, according to the Financial Times.
Johnson & Johnson has agreed to pay about $1 billion to resolve the bulk of the lawsuits alleging it sold defective metal-on-metal hip implants, according to Bloomberg.
Seven major health systems joined forces to form a nonprofit generic drug company, Civica Rx, to address drug shortages and combat the rising price of medications.
The FDA has approved a new medication for a rare neuromuscular disorder in children, adding unforeseen competition to Catalyst's $375,000 drug, Firdapse, which was at the center of a pricing controversy earlier this year, according to STAT news.
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By using external reference pricing to match U.S. drug prices to those in Japan, the U.K. or Canada, Medicare could have saved nearly $73 billion in 2018, according to a new study published in Health Affairs.
President Donald Trump has asked HHS Secretary Alex Azar to help Florida set up and quickly approve its program to import prescription drugs from Canada, according to Politico.
A new gene therapy for an infant muscle-wasting disease is about to launch at a potential cost of $2 million, according to The Wall Street Journal.
Vivimed Life Sciences issued a recall for 19 lots of losartan potassium tablets after detecting a potentially carcinogenic impurity.
Ten workers from the Global Compounding Pharmacy in Alabama, including a nurse practitioner, pharmacist and the pharmacy's owners, were charged in connection to a $200 million prescription drug fraud investigation, according to a WSFA news report.