Opioid makers pay tens of millions of dollars to doctors, raising concerns that the payments may affect prescribing habits.
Martin Shkreli, the eccentric former pharmaceutical CEO notorious for a price-gouging scandal and for his snide "Pharma Bro" persona on social media, was convicted on federal charges he deceived investors in a pair of failed hedge funds.
U.S. regulators have approved the first drug to treat all forms of hepatitis C in as little as eight weeks.
"In terms of overall drug costs, as long as it takes $2.5 billion in 10 years to get a product to market, it is going to be challenging. So, looking at ways to modernize and reduce those development cycles is really important."
The bill, which now awaits the president's approval, has received broad support from medical device and pharmaceutical groups as a means to add more certainty and efficiency to the product review process.
The Dublin, Ohio-based pharmaceutical and medical products distributor saw its pharmaceutical segment profit drop 7% to $505 million as companies along the pharmaceutical supply chain have taken a financial hit resulting from the increasing scrutiny surrounding surging drug prices.
Pfizer second-quarter earnings jumped thanks to rising sales of key drugs, but its overall revenue declined as the drugmaker was dogged by increased biosimilar competition and the divestiture of Hospira Infusion Systems.
There has been a recent wave of consolidation among contract research organizations as companies look to grow their pharmaceutical services and cut costs.
Drug prices continue to rise faster than the medical inflation rate, largely due to sharp spikes in branded drug prices that have caused providers to work around optimal treatments and forced patients to avoid taking costly medications.
Drugmakers Baxter International and Claris Injectables agreed to divest two pharmaceutical products to settle Federal Trade Commission antitrust concerns over Baxter's proposed $625 million acquisition of Claris' injectable drugs business.
Regulators should close regulatory loopholes that allow certain branded-drug developers to "game the system" and thwart competition, policymakers and healthcare experts said at the U.S. Food and Drug Administration's meeting Tuesday.
Missouri became the final state to create a prescription drug-monitoring program Monday when Republican Gov. Eric Greitens signed an executive order aimed at combating a scourge that killed more than 900 residents last year. The announcement surprised lawmakers.