- Drug price cuts in Japan sink in though details sparse (fiercepharmaasia.com)
Domestic and foreign drugmakers in Japan may cut spending on R&D as the scope of mandated price cuts for reimbursed products kicks in--suggesting that future investments are at stake...Pfizer and Eli Lilly have raised the issue as a combination of price reviews for pharmaceuticals hits in one of the top 5 reimbursement markets globally...Without stability and predictability in drug prices, investments will go elsewhere...cost cuts raise the risk of less investment in Japan...Reimbursement in Japan was a double-whammy this fiscal year that started April 1 for many drug firms, with price cuts for widely prescribed drugs by Japan's Central Social Insurance Medical Council, known as Chuikyo, reaching as much as 50 percent...Under the formula, drugs with annual Japan sales of more than ¥150 billion ($1.8 billion) and that see sharp sales gains can face cuts...On top of that, the every-other-year price-cut exercise by the government at the same time aims for savings of $1.5 billion. The exact revenue losses for companies won't likely be known until second-quarter results are released--although several companies flagged the issue in fourth-quarter earnings calls... Japan's Ministry of Finance has suggested the price cuts need to be every year as healthcare costs balloon along with a rapidly aging society that requires increasingly expensive care...
- Former Shkreli-led drug developer pledges responsible pricing (reuters.com)
A biotechnology company, previously led by controversial former drug executive Martin Shkreli, on Monday vowed not to engage in aggressive pricing and to develop a transparent and 'responsible' pricing model for its products...KaloBios Pharmaceuticals Inc, which fired chief executive Shkreli last December...is developing drugs to treat Chagas disease and cancer, said...that it intended to price its products at overall cost, plus a 'reasonable and transparent' profit margin, if and when they are ready for marketing...There exist no approved drugs for Chagas disease in the United States or Europe. However, benznidazole is cleared for use in Latin America, and is considered the standard-of-care treatment in the region...We are not conducting original research on benznidazole and therefore do not plan to incorporate an 'R&D premium' into the price...
- Benzer Pharmacy launches pet meds site (drugstorenews.com)
Benzer Pharmacy...launched its new website for pet medications, BenzerPetMed.com. Benzer pharmacist JiYang Chung said that compounded pet medication has become an ideal treatment for such acute and chronic conditions in pets as rashes, ear infections, wound care and diabetes...Benzer Pet Pharmacy will formulate pharmaceutical-grade ingredients into tailored medications for pet’s specific needs…The website will offer such services as home deliveries, online ordering, refill reminders, custom compounded medication and free medication flavoring...
- JAMA Forum: We Can’t All Have It All: The Economic Limits of Pharmaceutical Innovation (newsatjama.jama.com)
Even though US consumers spend 3 times more for hospital care than for medication, they are much angrier with pharmaceutical companies than hospitals for driving up the cost of health care. Drug companies raise this apparent inconsistency in an effort to defend their pricing practices. In so doing, however, they fail to appreciate why they’ve been targeted for so much opprobrium. Ironically, the industry’s biggest public relations problems may arise from its most effective and widely applicable innovations...Taking medications is the most common way US consumers use health care...patients are 8 times more likely take a prescription drug than to use hospital inpatient services...US patients are relatively underinsured for prescription drug expenses, further contributing to high out-of-pocket costs...The upward trajectory of cost sharing amplifies the effect of price increases on patients. As coverage erodes, the veil separating patients from drug prices lifts; fewer get such a clear view of hospital prices...The rate of increase in drug prices has outpaced that of overall medical care every year since 2008...Higher prices may help fuel drug innovation. Yet, at the current price trajectory, the rate of innovation will eventually exceed our ability to pay for it. Fostering valuable innovation with financial reward is the engine of much of American commerce, including in health care. It’s a fantastic model, responsible for tremendous gains in longevity, well-being, and satisfaction. We should keep that engine turning, but only as rapidly as we can afford.
- Engineers develop a pill for long-term drug release (news.mit.edu)
Researchers from MIT and Brigham and Women’s Hospital have designed a new type of pill that, once swallowed, can attach to the lining of the gastrointestinal tract and slowly release its contents. The tablet is engineered so that one side adheres to tissue, while the other repels food and liquids that would otherwise pull it away from the attachment site...Such extended-release pills could be used to reduce the dosage frequency of some drugs...The ability to precisely engineer the adhesiveness of a particle opens up possibilities of designing particles to selectively adhere to specific regions of the GI tract, which in turn can increase the local or systemic concentrations of a particular drug...In addition to delivering antibiotics, the two-sided material may help to simplify drug regimens for malaria or tuberculosis, among other diseases...The researchers may also further pursue the development of tablets with omniphobic coatings on both sides, which they believe could help patients who have trouble swallowing pills...Texturing the surfaces really opens up a new way of thinking about controlling and tuning how these drug formulations travel...
- Valeant CEO Pearson May Be Held in Contempt by Senate Panel (bloomberg.com)Valeant asks CEO Pearson to cooperate with U.S. Senate committee (reuters.com)
A Senate committee may start contempt proceedings against Michael Pearson, chief executive officer of Valeant Pharmaceuticals International Inc., for failing to appear to give testimony related to an investigation on drug pricing...Michael Pearson was under subpoena to appear for a deposition today related to the Senate Special Committee on Aging’s drug pricing investigation, and he did not comply with that subpoena...It is our intent to initiate contempt proceedings against Mr. Pearson...a lawyer representing Pearson said the executive will appear at the hearing but that the deposition subpoena was unfair in both timing and scope...Pearson shouldn’t be expected to give sworn testimony if the committee hasn’t been clear about what topics and documents he’ll be questioned about...Mr. Pearson looks forward to testifying publicly at the committee’s hearing on April 27, but has informed the company and the committee that he does not intend to also appear for private testimony in advance of the hearing...
- Armada renames as Asembia, launches new brand identity (drugstorenews.com)
Armada Health Care announced...that it would be launching a new brand identity and company name change to Asembia. With the new name, Asembia plans to continue expanding on its specialty pharmaceutical offerings, including solutions for pharmacies, pharmaceutical and biotech companies and payers...We are a very different company from when we first started more than a decade ago. In this regard, we are excited to announce our new corporate identity which we feel better reflects our broad array of capabilities and service offerings, each of which are developed collaboratively with our member pharmacy and manufacturer...
- Colorado lawmaker aims to outlaw pot-laced gummy bears (reuters.com)
A Colorado lawmaker (Dan Pabon) is trying to outlaw marijuana-laced gummy candies that resemble children's treats, the latest effort...to address the complexities and unintended consequences of pot legalization...In 2014 Colorado became the first state to allow the sale of marijuana for recreational use, and it has grown to be a billion dollar industry in the state...there are no distinguishing characteristics between the gummy bear that contains marijuana and one that does not...Numerous children in Colorado were hospitalized after becoming critically ill as a result of ingesting edible marijuana products after pot became legal...
- Pharmacy on demand New, portable system can be configured to produce different drugs. (news.mit.edu)
MIT researchers have developed a compact, portable pharmaceutical manufacturing system that can be reconfigured to produce a variety of drugs on demand...Just as an emergency generator supplies electricity to handle a power outage, this system could be rapidly deployed to produce drugs needed to handle an unexpected disease outbreak, or to prevent a drug shortage caused by a manufacturing plant shutdown...Think of this as the emergency backup for pharmaceutical manufacturing...The purpose is not to replace traditional manufacturing; it’s to provide an alternative for these special situations...The goal of this project was to build a small-scale, portable unit that was completely integrated, so you could imagine being able to ship it anywhere. And as long as you had the right chemicals, you could make pharmaceuticals...system can produce four drugs formulated as solutions or suspensions — Benadryl, lidocaine, Valium, and Prozac. Using this apparatus, the researchers can manufacture about 1,000 doses of a given drug in 24 hours...researchers are now working on the second phase of the project, which includes making the system about 40 percent smaller and producing drugs whose chemical syntheses are more complex. They are also working on producing tablets, which are more complicated to manufacture than liquid drugs.
- High-tech patient simulators unveiled at Renown (kolotv.com)
Manikins that breathe, sweat, cry and give birth are the newest high-tech teaching tools at Renown Regional Medical Center. They simulate normal healthy human functions. They can also imitate the symptoms of a medical conditions, giving health care professionals training opportunities...Sensors can tell the coordinators if the right medications and dosage were used. If not, the patient simulator may begin to display symptoms of a reaction. Organizers hope the program gives new and experienced nurses broader knowledge. Doctors and nurses will begin training with the manikins in early May...