Drug Pricing: Page 2
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CVS launches new venture in biosimilar drug experiment
The subsidiary, called Cordavis, will work directly with manufacturers to market or co-produce low-cost biologic drugs, starting with Novartis’ Humira copy.
By Jonathan Gardner • Aug. 24, 2023 -
Boehringer sues to block US drug price program
The pharma’s suit, which claims Medicare’s new power to negotiate certain drug prices is unconstitutional, comes days before the agency will reveal the first 10 medicines to be included under the plan.
By Ned Pagliarulo • Aug. 22, 2023 -
Trendline
Drug pricing
Drug pricing legislation has put pharmaceutical companies on the defensive and created a new precedent for the industry.
By BioPharma Dive staff -
Blue Shield of California drops CVS Caremark in pharmacy benefit overhaul
BSCA has kicked CVS Caremark, the largest pharmacy benefit manager in the country, to the curb and is electing to carve out various pharmacy functions with companies like Amazon instead.
By Rebecca Pifer • Updated Aug. 17, 2023 -
EQRx to sell to Revolution Medicines after failed bid to upend US drug pricing
The all-stock deal is a quiet end for the ambitious biotech, which was sold for its billion-dollar bank account after the FDA derailed its plans to develop low-cost cancer medicines.
By Ben Fidler • Aug. 1, 2023 -
RSV vaccines
GSK confident in RSV vaccine launch, but sets expectations for ‘steady build’
GSK expects its respiratory syncytial virus vaccine will be a multibillion dollar product. But at the beginning, it’s predicting a slower launch than for its fast-selling shingles shot.
By Delilah Alvarado • July 27, 2023 -
Patent thickets
Biosimilar makers split strategies in bid to take on top-selling Humira
In challenging AbbVie for share of a $19 billion drug market, competitors are testing whether high upfront discounts or behind-the-scenes rebates can win them an advantage.
By Jonathan Gardner • July 26, 2023 -
J&J joins pharma allies in challenging US drug pricing law
The pharma claimed in federal court that the Inflation Reduction Act, which threatens sales of its blood thinner Xarelto, amounts to “confiscation of constitutionally protected property.”
By Kristin Jensen • July 19, 2023 -
Pharma’s strike-from-all-sides attack on the IRA could end up at the Supreme Court
Industry lawsuits have taken a ‘multi-pronged’ approach to challenge the Inflation Reduction Act’s price negotiation program on constitutional grounds.
By Alexandra Pecci • July 6, 2023 -
Alvotech to raise cash after third FDA rejection for Humira biosimilar
The latest regulatory setback, tied to continuing manufacturing issues, ensures Alvotech and partner Teva won’t be able to launch their drug alongside a wave of emerging Humira copycats.
By Kristin Jensen • June 29, 2023 -
Sarepta prices Duchenne gene therapy at $3.2M
The cost makes Sarepta’s treatment among the most expensive medicines in the world. But company executives said they don’t expect significant insurer pushback.
By Ben Fidler • June 22, 2023 -
AbbVie, Coherus mend dispute over low-price Humira biosimilar
The biosimilar developer’s plans to set steep discounts on its copycat version of AbbVie’s Humira set off a legal back-and-forth between the companies.
By Kristin Jensen • June 15, 2023 -
Pharmaceutical companies search for IRA response as they brace for drug pricing talks
Lobbying group PhRMA does not expect any near-term changes to the IRA’s drug pricing provisions, but is attempting to lay groundwork for future changes.
By Christopher Newman • June 15, 2023 -
Medicare sets next tranche of drugs to face price hike penalties
CMS named 43 Part B drugs for which prices rose more than inflation, and which will have lower coinsurance rates next quarter as a result.
By Ned Pagliarulo • June 9, 2023 -
Merck sues to block Medicare negotiation of drug prices
The drugmaker’s lawsuit claims the new pricing powers granted by the Inflation Reduction Act are unconstitutional and “tantamount to extortion.”
By Christopher Newman • Updated June 6, 2023 -
Coherus sets steep discount for Humira copycat, plans direct sales
The biotech will price its biosimilar Yusimry at 85% below Humira’s list price when it launches next month, and charge even less if bought through Mark Cuban’s pharmacy.
By Christopher Newman • June 1, 2023 -
House lawmakers, PBM lobby spar over committee hearing
At the latest congressional inquiry into pharmacy benefit managers, lawmakers argued the middlemen profit at the expense of patients and taxpayers.
By Rebecca Pifer • May 25, 2023 -
AbbVie weathers first months of biosimilar challenge to top-selling Humira
While Humira sales declined, the drop was mostly due to price concessions AbbVie made to secure equal insurer access in the face of copycat competition.
By Ned Pagliarulo • April 28, 2023 -
CMS removes 7 drugs from list marked for price hike penalties
After revising its calculations, CMS removed Gilead’s cancer cell therapies Yescarta and Tecartus, as well as 5 other medicines, from the first set of drugs subject to rebates under a provision of the IRA.
By Christopher Newman • March 31, 2023 -
Ohio AG sues Cigna, Humana for alleged PBM price fixing
The state’s Attorney General David Yost called pharmacy benefit managers “modern gangsters,” claiming in a suit filed Monday they shared pricing information and drove up drug prices.
By Hailey Mensik • March 28, 2023 -
Moderna CEO defends price of COVID shot at Senate hearing
Stéphane Bancel said his company's planned quadrupling of the vaccine’s price covers the higher costs of commercial sales. Sen. Bernie Sanders called it part of industry’s “unprecedented level of corporate greed.”
By Christopher Newman • March 22, 2023 -
U.S. government again rejects call to seize Xtandi rights
The Biden administration plans to review federal “march-in” rights and consider whether price could be a reason to take control of patents for drugs developed with government funding.
By Jonathan Gardner • March 22, 2023 -
Sanofi joins other diabetes drugmakers in cutting insulin prices
The pharma is the last of the three major insulin suppliers to reduce U.S. list prices, responding to persistent criticism and policy changes that will affect Medicaid rebate payments.
By Christopher Newman • March 17, 2023 -
CMS lays out plans for negotiating drug prices
The guidance fills in details for one of the central pharmaceutical provisions of the Inflation Reduction Act, signaling how the agency will use its new authority.
By Christopher Newman • March 16, 2023 -
US names first drugs to face price hike penalty
Gilead’s cancer cell therapies Yescarta and Tecartus were among the slate of 27 drugs singled out by CMS for rebates under a provision of the IRA.
By Christopher Newman • March 15, 2023 -
Novo Nordisk follows Lilly in sharply cutting insulin prices
Responding to policy changes and pressure over high drug costs, the pharma is reducing the sticker price of four branded diabetes medicines by up to 75%.
By Delilah Alvarado • March 14, 2023