Pharmacy benefit managers' business model is being threatened by federal regulatory and political efforts to cut healthcare costs; however, vertical mergers and acquisitions between PBMs and health insurers could deter some of these changes, according to Fitch Ratings.
Pharmacy
Federal lawmakers have proposed legislation allowing HHS to push back on drug price hikes, according to a Reuters report.
A jury convicted a co-owner and four ex-employees of a Massachusetts compounding pharmacy of committing fraud and other illegal activities that boosted its business before a 2012 meningitis outbreak associated with the facility's drugs, according to Reuters.
New York City-based Synergy Pharmaceuticals, a biopharmaceutical company that develops gastrointestinal therapies, has filed for Chapter 11 bankruptcy.
Adam Schechter, Merck's president of global human health, will step down from his position Dec. 31. He has been with Merck for 30 years.
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Target will pay $3 million to resolve allegations that the company automatically refilled Medicaid recipients' prescriptions without explicit request in Massachusetts. The allegations violate the False Claims Act.
The House overwhelmingly approved a bipartisan drug pricing bill that looks to crack down on "big pharma's games" that increase profits at the expense of the taxpayers, according to The Hill.
A month after Kaleo came under fire for raising the price of its opioid antidote 600 percent to $4,100, the Virginia drugmaker announced it will launch a generic version at a fraction of the cost, according to a STAT news…
Gilead Sciences has named Daniel O'Day — a longtime Roche Holdings executive — as its new CEO, according to The Wall Street Journal.
What began as a lawsuit over the prices of two drugs has grown to become a 47-state case involving at least 16 generic drug companies and 300 drugs, according to The Boston Globe.