Amazon, through a partnership with generic store brand pharmaceutical maker Aurohealth, will launch a fourth exclusive over-the-counter medication brand called Primary Health, according to TJI Research.
Pharmacy
Eli Lilly & Co. posted a net income of $1.15 billion in the third quarter of 2018, more than double the $555.6 million net income the drugmaker earned in the same quarter last year, according to The Wall Street Journal.
QuickChek, a convenience store chain with 159 stores in New Jersey and New York, will close its nine pharmacy departments and transfer all pharmacy files to CVS Health, according to the Asbury Park Press.
After its $69 billion acquisition of Aetna is finalized, CVS plans to introduce more health services, including chronic disease management, at select drugstores, according to CNBC.
Insys Therapeutics is looking to sell its opioid-related assets after spending the last year battling lawsuits and facing criticism about its tactics to push prescriptions of Subsys, a mouth-spray version of fentanyl, according to The Wall Street Journal.
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Novartis said it believes its new gene therapy for spinal muscular atrophy, a genetic disease affecting voluntary muscle movement, will be worth more than $4 million per dose, according to STAT.
Fueled by its improving pharmacy retail business, CVS Health posted a net income of $1.39 billion in the third quarter of 2018, up from $1.29 billion the same period one year prior, according to CNBC.
Novartis will stop working toward FDA approval for its biosimilar of rituximab, a medication used to treat certain cancers and rheumatoid arthritis, according to Reuters.
Aurobindo Pharma issued a voluntary recall of 22 batches of Irbesartan, a drug used in the treatment of hypertension, due to the presence of an impurity linked to cancer, according to LiveMint.com.
Novo Nordisk, a Denmark-based pharmaceutical company, will cut 1,300 jobs by the end of the year as it faces mounting pressure in the U.S. market, according to The Wall Street Journal.