- 5 Key Questions Pharmacy Owners Should Ask Themselves (pharmacytimes.com)
Pharmacy owners who ask themselves the following 5 questions on a weekly basis will find that this exercise helps them create the pharmacies that they want, ones that matter in their communities and ones that help create lifestyles that benefit their families.
- Is what got me where I am today going to get me where I want to go tomorrow?
- Have I differentiated myself in the marketplace?
- Am I organizing my time, effort, and other resources around winning strategies and great marketing to build the future I want, or am I still clinging to the status quo, which is based on yesterday’s breadwinners and today’s mistakes?
- Am I focusing each hour of every single working day on those few activities that contribute the most to increasing cash flow and profits?
- What do potential patients value most that they are not finding from me and are seeking from my competitors?
- Pfizer wins appeal against CMA fine over epilepsy drug price (pharmaceutical-technology.com)
...Pfizer has won its appeal in the UK’s Competition Appeals Tribunal against a £84.2m ($111.6m) fine imposed by the Competition and Markets Authority for dramatically increasing the price of its epilepsy drug, Epanutin...Following a three year investigation, the CMA ruled in 2016 Pfizer and its distributor Flynn Pharma had abused their dominant market position by raising the price of Epanutin from £2.83 per pack of capsules to £67.50, which represents more than a 2,000% increase. Annual NHS spending on the drug increased from £2m in 2012 to £50m in 2013...Philip Marsden, the CMA’s chairman...said the companies had “deliberately exploited” the generic product loophole that allowed the price increase...“Businesses are generally free to set prices as they see fit but those holding a dominant position should not abuse this situation and set prices that are excessive and unfair. There is no justification for such rises when phenytoin sodium capsules are a very old drug for which there has been no recent innovation or significant investment.”...The CTA declared that...CMA had not applied the correct legal tests to assess whether the price rise was excessive and had failed to consider the correct price for the product and take into account other comparable products
- AbbVie slammed by FDA for improper handling of Humira death complaints: report (fiercepharma.com)
A number of AbbVie products coming out of its North Chicago, Illinois, manufacturing facility have been tied to death complaints, including its mammoth blockbuster Humira, and the FDA says the drugmaker has not done enough to investigate those complaints...FDA inspectors found that AbbVie had received five complaints tied to deaths after taking Humira and Venclexta. While the drugmaker reported those, it didn't go back and compile historical data about death complaints tied to drugs coming from the same lots. It turns out those lots had been tied to another 8 to 11 complaints each...an AbbVie spokeswoman countered the FDA observation, saying the company “investigates all complaints where a death has occurred during the use of our products,” and that “written complaint procedures are in place to investigate, analyze and resolve complaints.”...The FDA also found AbbVie's procedures for handling death complaints for products made at the plant “inadequate.”...no document showed that AbbVie evaluated complaints to see if there were other ones for nearby lot numbers or different strengths, or that it examined the reserve sample...the agency also warned AbbVie for not examining reserve samples at least once a year for evidence of deterioration, and for its failure to investigate drug batches manufactured close to a problematic one.
- Novartis won’t face Swiss criminal probe over payments to Trump lawyer (biopharmadive.com)
The Swiss attorney general's office will not initiate criminal proceedings against Novartis over the $1.2 million the pharma paid a company controlled by President Donald Trump's personal lawyer Michael Cohen..."Following a detailed analysis, the OAG concluded that there was insufficient suspicion to justify opening criminal proceedings," the Office of the Attorney General of Switzerland wrote in an emailed statement...Not only was Cohen unable to deliver the sought-after advice, but recent revelations of the agreement led to accusations Novartis paid money to gain favorable treatment by the U.S. government...the deal was in place while Novartis was negotiating with the Centers for Medicare and Medicaid Services on reimbursement for its CAR-T cancer therapy Kymriah...
- This Week in Managed Care: June 15, 2018 (ajmc.com)
Kelly Davio, welcome to This Week in Managed Care from the Managed Markets News Network
- NIH Targets $500 Million At Opioid Crisis (forbes.com)NIH leadership outlines interdisciplinary FY2018 research plan for HEAL Initiative (nih.gov)
The National Institutes of Health is explaining how it will spend $500 million in research funds Congress appropriated to address the current opioid crisis...The list of objectives, published...in the Journal of the American Medical Association, includes: developing new medications to treat opioid addiction; tinkering with existing medications so they can be taken less often; improving medicines that reverse overdoses; developing new models of caring for people with opioid addiction in the healthcare and criminal justice systems; determining the best way to care for newborns in opioid withdrawal; discovering and validating new targets for non-addictive pain drugs and devices, and partnering with pharmaceutical companies to accelerate new pain and addiction medications. The $500 million will be distributed as research grants after a call for proposals later this summer.
- Brexit Is Seen Costing Pharma Hundreds of Millions of Pounds (bloomberg.com)
Brexit uncertainty is forcing drugmakers in Britain to invest hundreds of millions of pounds to maintain the steady supply of medicines to patients, siphoning off money that could have gone to developing new treatments...Pharmaceutical companies are preparing for potential regulatory and trade hurdles after the U.K. leaves the European Union, expanding testing facilities, moving marketing authorizations and drafting contingency plans. Regulatory alignment between the EU and Britain makes sense to all sides, and if Britain remains part of Europe’s drug-approval system, a lot of the investment may prove to have been unnecessary, said Mike Thompson, chief executive of the Association of the British Pharmaceutical Industry...business leaders are urging Prime Minister Theresa May to finalize key Brexit decisions, many are already conducting costly preparations for a rocky break with the EU as the U.K. hurtles toward exiting the bloc in March 2019...The industry is concerned about possible delays in evaluating new drugs when the European Medicines Agency, the bloc’s regulator, moves to Amsterdam from London, he said. The agency is bracing for higher-than-anticipated staff departures due to a host of issues, including the effect of local labor laws on short-term contracts, EMA Executive Director Guido Rasi said in an interview...
- June 15 Pharmacy Week in Review: Pharmacist-Physician Collaboration, New Tool for Diagnosing IBS (pharmacytimes.com)
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.
- A serious new hurdle for CRISPR: Edited cells might cause cancer, two studies find (statnews.com)CRISPR stocks tank after research shows edited cells might cause cancer (cnbc.com)
Editing cells’ genomes with CRISPR-Cas9 might increase the risk that the altered cells, intended to treat disease, will trigger cancer, two studies published on Monday warn — a potential game-changer for the companies developing CRISPR-based therapies...scientists found that cells whose genomes are successfully edited by CRISPR-Cas9 have the potential to seed tumors inside a patient. That could make some CRISPR’d cells ticking time bombs...The CEO of CRISPR Therapeutics, Sam Kulkarni, told STAT the results are “plausible.” Although they likely apply to only one of the ways that CRISPR edits genomes (replacing disease-causing DNA with healthy versions) and not the other (just excising DNA), he said, “it’s something we need to pay attention to...We need to do the work and make sure edited cells returned to patients don’t become cancerous.”...Standard CRISPR-Cas9 works by cutting both strands of the DNA double helix. That injury causes a cell to activate a biochemical first-aid kit orchestrated by a gene called p53, which either mends the DNA break or makes the cell self-destruct...The flip side of p53 repairing CRISPR edits, or killing cells that accept the edits, is that cells that survive with the edits do so precisely because they have a dysfunctional p53 and therefore lack this fix-it-or-kill-it mechanism...The reason why that could be a problem is that p53 dysfunction can cause cancer...P53 mutations are responsible for nearly half of ovarian cancers; 43 percent of colorectal cancers; 38 percent of lung cancers; nearly one-third of pancreatic, stomach, and liver cancers; and one-quarter of breast cancers...
- After setting aside $200M, Endo settles 1,300 testosterone liability lawsuits (fiercepharma.com)
...Endo International has inked a deal to put 1,300 testosterone drug liability lawsuits to rest...The company disclosed a "master settlement agreement"...to resolve "all known" cases it faces. It will pay into a settlement fund, from which plaintiffs can release their claims...The deal doesn't include an admission of wrongdoing...Late last year, the company added $200 million to its legal reserves to cover costs in testosterone product liability litigation. The company reported in May that it faced about 1,300 testosterone cases. About 900 suits are in a nationwide multidistrict grouping against Endo and several other drugmakers...The plaintiffs alleged that Endo and other drugmakers overmarketed their testosterone drugs and ignored safety risks, leading to serious health complications...The company is among a group of drugmakers facing thousands of lawsuits alleging harm from testosterone replacement therapies. AbbVie faces about 4,600 lawsuits in the multidistrict litigation...while Eli Lilly faces about 500. All told, the multidistrict litigation includes about 7,700 testosterone liability lawsuits. Eli Lilly previously entered a memorandum of understanding about a potential settlement over lawsuits alleging harm from Axiron.