The average annual cost of 61 widely used specialty drugs for treating chronic conditions reached $78,871 in 2017, a number nearly triple the average annual cost for the same specialty drugs in 2006, according to a new AARP report. 

An Oklahoma judge has approved Teva Pharmaceuticals' revised $85 million settlement with the state resolving claims that the drugmaker helped fuel the opioid crisis, according to CNBC. 

Conatus Pharmaceuticals, a biotechnology company in San Diego, is implementing a restructuring plan that includes laying off 40 percent of its staff after its liver disease drug failed a midstage trial. 

Arizona consumers are struggling to find a cheaper version of insulin manufactured by Eli Lilly, according to The Arizona Republic.

AbbVie plans to acquire Allergan in a cash and stock deal valued at $63 billion, one of the biggest mergers in the healthcare industry this year.

Onisis Stefas, PharmD, MBA, serves as the vice president and chief pharmacy officer for New Hyde Park, N.Y.-based Northwell Health, overseeing the pharmacy service line for the health system's 23 hospitals and 750 outpatient facilities. 

In addition to acting FDA Commissioner Ned Sharpless, MD, two other candidates are in the running to take the position, according to The Wall Street Journal.

Medical device and drug recalls, whether voluntary or forced by the FDA, ensure patient safety. Here are five reported by Becker's Hospital Review in the last month:

The FDA has approved Vyleesi, a drug for premenopausal women with hypoactive sexual desire disorder.

HHS has sent a proposal to the White House for review that aims to lower prices on  prescription drugs by tying them to the prices that economically similar countries pay, according to The Hill.