In a move to enhance its cancer drug pipeline, AstraZeneca agreed to pay up to $6.9 billion to a Japanese drugmaker for the shared rights to a new cancer drug, according to The Wall Street Journal.
Pharmacy
North Chicago, Ill.-based AbbVie will lay off 178 workers from its Stemcentrx unit, which the drugmaker acquired for $5.8 billion three years ago, according to the San Francisco Business Times.
Heart of the Rockies Regional Medical Center in Salida, Colo., will establish its own in-house pharmacy for patients and employees, according to the Ark Valley Voice.
A majority of hospital pharmacists in the U.S. deal with at least 50 drug shortages each year, which often results in rationing lifesaving medications, a new study published in JAMA found.
Following its rival drugstore chain CVS Health, Walgreens plans to sell CBD creams, patches and sprays in 1,500 stores in nine states, according to CNBC.
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Novartis won approval for its multiple sclerosis drug Mayzent, which will launch at a price of $88,000 annually, according to Reuters.
In the latest talc trial, a New Jersey jury decided Johnson & Johnson was not liable for causing a man's mesothelioma, according to CNBC.
Three generic drugmakers — Teva Pharmaceuticals, Mylan and Ranbaxy — will pay $65.9 million to settle claims that they engaged in a scheme promoting anticompetitive behavior, according to Reuters.
After a string of recalls linked to impurities or other contaminants in medications, the FDA plans to change the rules governing how drugs are manufactured to boost safety, according to Bloomberg.
Purdue Pharma and its billionaire family owners have made headlines this year as states and cities work through lawsuits claiming the OxyContin maker fueled the U.S. opioid crisis.