Nostrum Laboratories, a Missouri-based drugmaker, raised the price of a generic antibiotic 400 percent to more than $2,000 per bottle, and its CEO is defending the price hike, according to The Financial Times.
Pharmacy
Walgreens will purchase pharmacy patient prescription files and related inventory from 185 Fred's Pharmacy stores for $165 million, plus an amount equal to the value of related pharmacy inventory.
Swiss pharma giant Novartis will sell part of its generic drug business, Sandoz, in a deal valued at $1 billion, reports the Wall Street Journal.
BlueCross BlueShield of Tennessee will stop covering the prescription opioid OxyContin beginning January 1, 2019.
Drugmakers increased the price of 60 products August — a sharp decline from July, which saw 110 price increases, according to a Wells Fargo drug-pricing report.
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Despite public outrage over the high cost of insulin and drugmaker promises to halt price increases, they continued to climb from 2017 to 2018, according to a GoodRx analysis.
In an effort to increase drug price transparency, the Senate passed a bill that would ban Medicare insurers from writing gag clauses into their contracts with pharmacists, according to The Washington Examiner.
Medical device and drug recalls, whether voluntary or forced by the FDA, ensure patient safety.
To find financial wiggle room to compete with larger rivals, Bayer is considering job cuts and outsourcing, a person familiar with the discussion told Reuters.
On average, hospitals mark up prescription drugs by 479 percent, according to a new report from PhRMA, the drug industry's main lobbying group.