- Purdue Pharma files for bankruptcy as part of settlement (news.yahoo.com)Purdue Pharma filed for bankruptcy. What does it mean for lawsuits against the opioid manufacturer? (statnews.com)
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
- Genentech settles fight over cancer drug trade secrets with Taiwan’s JHL (fiercepharma.com)
Genentech has called a truce with Taiwanese biosimilar firm JHL Biotech, which allegedly stole trade secrets to help it develop copycats to top-selling cancer drugs...The Roche unit said the settlement requires JHL “to abandon development of and destroy” all cell materials related to the cancer drug brands involved—namely Rituxan, Herceptin, Avastin and Pulmozyme—and stop using or sharing them in any way. To make sure JHL complies, Genentech has the right to unannounced checkups...JHL...posted, the Taiwanese firm “will reimburse Genentech for its legal fees and the cost of its investigation, but will not otherwise pay any damages.”...READ MORE
- This Week in Managed Care: September 6, 2019 (ajmc.com)
Laura Joszt, Managing Editor at The American Journal of Managed Care. Welcome to This Week in Managed Care from the Managed Markets News Network
- Walmart tests dentistry and mental care as it moves deeper into primary health (cnbc.com)
Walmart...is moving deeper into the primary care and mental health market, opening a new clinic called Walmart Health in Georgia...Walmart is testing the concept with the initial clinic and will offer primary care, dental, counseling, labs, X-rays and audiology, among other services...READ MORE
- This Week in Managed Care: September 13, 2019 (ajmc.com)
Laura Joszt, Managing Editor at The American Journal of Managed Care. Welcome to This Week in Managed Care from the Managed Markets News Network
- Kentucky hospitals sue drugmakers, distributors and retailers for opioid epidemic costs (fiercehealthcare.com)
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
- September 6 Pharmacy Week in Review: Study Links Tramadol to Increased Risk of Hypoglycemia; Pinterest Supporting Reliable Vaccine Health Information (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.
- September 13 Pharmacy Week in Review: WHO Statement Emphasizes Accurate Vaccine Information; FDA Issues Warning Letter to JUUL Labs; Study Says Many Deaths Still Attributed HIV (pharmacytimes.com)
Laura Joszt, 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.
- Purdue Pharma says settlement talks in opioid cases not over (apnews.com)OxyContin maker Purdue Pharma expected to file for bankruptcy after stalled settlement talks (foxnews.com)
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 expands drug bulk-buy program, puts pressure on pharma firms (reuters.com)
China has expanded a pilot drug bulk-buying program to almost the entire country in an attempt to negotiate lower prices from drug manufacturers, heaping fresh pressure on multinational pharmaceutical companies and their domestic rivals...The program rolled out last year saw 11 Chinese cities...band together behind a tender process to bulk-buy 25 types of drugs. This caused the price of some medicines to plunge over 90%…The scheme will be expanded to 25 provinces and regions, who will form a league to look for suppliers for these drugs that will be stocked at public hospitals as well as some military and private medical institutions...READ MORE