Category:

Purdue Pharma...filed for bankruptcy...days after reaching a tentative settlement with many of the state and local governments suing it…The filing was anticipated before and after the tentative deal, which could be worth up to $12 billion over time, was struck..."This settlement framework avoids wasting hundreds of millions of dollars and years on protracted litigation," Steve Miller, chairman of Purdue's board of directors, said in a statement, "and instead will provide billions of dollars and critical resources to communities across the country trying to cope with the opioid crisis. We will continue to work with state attorneys general and other plaintiff representatives to finalize and implement this agreement as quickly as possible."...READ MORE

Laura Joszt, Managing Editor at The American Journal of Managed Care. Welcome to This Week in Managed Care from the Managed Markets News Network

Endo International Plc and Allergan Plc have agreed to pay $15 million to avoid going to trial...in a landmark case by two Ohio counties accusing various drug manufacturers and distributors of fueling the U.S. opioid epidemic...The tentative deals...came ahead of the first trial to result from 2,000 lawsuits pending in federal court in Cleveland largely by local governments seeking to hold drug companies responsible for the deadly epidemic...The accords are the first to result from the counties’ cases, which were selected for the first bellwether, or test, trial in the litigation to allow parties to gauge the value of the remaining claims and inform potential settlement talks...READ MORE

McKesson Corp., Cardinal Health Inc., and AmerisourceBergen Corp. have proposed paying $10 billion to settle claims they helped to fuel the U.S. opioid epidemic — the first sign of progress in resolving state lawsuits against the drug distributors…The companies, which deliver the majority of prescription medications to U.S. pharmacies, made the verbal proposal as part of talks with a group of state attorneys general...Whether the distributors and attorneys general can agree to a deal remains uncertain...READ MORE

A group of 23 Kentucky hospitals is suing major drugmakers, distributors and retailers for their role in the opioid epidemic just days after a group of Texas hospitals unveiled a similar suit...The civil lawsuit filed...in Warren County, Kentucky, alleges more than 40 major companies such as CVS Health, Johnson & Johnson and Purdue Pharma along with individuals made actions that directly led to hospitals bearing the financial burden of caring for opioid victims. Kentucky is one of several states hit especially hard by the epidemic...The lawsuit said hospitals have had to add or modify services such as hiring additional security and providing more “specialized training for staff to accommodate the rapid rise in opioid-related illnesses,”...READ MORE

Nicole Grassano, PTNN, Pharmacy Week in Review, this weekly video program provides our readers with an in-depth review of the latest news, product approvals, FDA rulings and more.

The Nevada Independent filed a lawsuit...against the Nevada Department of Health and Human Services seeking access to a number of records related to the state’s 2017 diabetes drug pricing transparency law...The Independent filed two records requests this year seeking copies of annual reports submitted by diabetes drug companies and the drug pricing middlemen who help sell them to the state…The annual reports are required to explain how and why a drug price spikes over time...But the state has denied much of both requests on the grounds that such information is exempt from state public records law because of a federal trade secret law...READ MORE

OxyContin maker Purdue Pharma and lawyers representing local governments both said...that they’re interested in continuing negotiations to settle lawsuits...a day after two state attorneys general told colleagues that their talks with the company were at an impasse and that they expected the company to file imminently for bankruptcy...The statements add another layer of uncertainty to attempts to strike a deal with a company that’s portrayed as a prime villain in the national opioid crisis...READ MORE

China said...it was relaxing drug laws to give greater leniency to people who import small amounts of medicines unapproved in China but sold legally overseas...Under the previous law, such drugs were classified as “fake drugs”. Those caught importing unapproved medicines were considered drug smugglers and faced heavy penalties...The change is part of wider revisions to drugs laws and authorities said it recognized how some Chinese, unable to afford expensive foreign-made, brand-name drugs, were turning to the grey market to buy cheaper generic versions that had not been approved by local regulators...READ MORE

A shortage of a versatile medicine used to treat immune disorders and other diseases has forced U.S. hospitals and infusion clinics to suspend treatment for many patients... many hospitals and infusion clinics have received less immune globulin, or IG, than they need. Some have started to ration it, prioritizing it for patients who need it to stay alive and canceling infusions for patients deemed to have non-life-threatening conditions. The shortage has gotten to an acute status...READ MORE