Tag Archives: pharma

Opioid Maker Purdue Pharma Files For Bankruptcy

The New York Times reports: Purdue Pharma, maker of OxyContin, the drug widely seen as igniting the opioid crisis, filed for Chapter 11 bankruptcy on Sunday night, a move at the center of the company’s efforts to shield itself and its owners from more than 2,600 federal and state lawsuits. The terms of the filing, which include a proposed resolution …

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Opioid Dealer Purdue To Pay $12B, Declare Bankruptcy

The Associated Press reports: Attorneys for some 2,000 local governments say they have agreed to a tentative settlement with OxyContin maker Purdue Pharma over the toll of the nation’s opioid crisis. Attorney Paul Farrell said in a text message Wednesday that they have agreed to a deal that has been on the table for several weeks. Sources with direct knowledge …

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Johnson & Johnson Hit With $572M Opioid Judgment

NBC News reports: Johnson & Johnson must pay over $572 million for its role in the Oklahoma opioid epidemic that officials claim led to more than 6,000 deaths in the state over nearly two decades, a judge ruled Monday. Oklahoma Attorney General Mike Hunter claimed in court that Johnson & Johnson (J&J) and its pharmaceutical subsidiary, Janssen, marketed opioids to …

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Trio Of Drugmakers Offer $10 Billion Opioid Settlement

Bloomberg reports: McKesson Corp., Cardinal Health, 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, according to people familiar with negotiations. The companies, which deliver the majority of prescription medications to U.S. pharmacies, made the verbal …

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Pin-Sized PrEP Implant Could Block HIV For Full Year

USA Today reports: Earlier this week, Merck released the results of a small and early trial showing a prototype of a pin-sized implant could block HIV from infecting individuals for a full year. Through an upper-arm implant, the same device used to administer certain birth controls, doctors will likely be able to deliver “meaningful doses” of an experimental anti-HIV drug, …

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Appeals Court Upholds Pharma Douche’s Conviction

CNBC reports: A federal appeals court on Thursday upheld the criminal conviction of notorious “pharma bro” Martin Shkreli. The three-judge panel in the U.S. Court of Appeals for the Second Circut also upheld the more than $6.4 million in foreiture that a judge imposed on Shkreli last year when she sentenced him for his conviction on two counts of securities …

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Former Trump FDA Chief Appointed To Pfizer Board

Axios reports: Pfizer, which has clashed with President Trump over drug prices, has appointed former FDA commissioner Scott Gottlieb to its board of directors. The role pays $335,000 annually in cash and stock. Since leaving the Trump administration roughly 3 months ago, Gottlieb has rejoined a conservative think tank and a venture capital firm that has pharmaceutical investments. Cycling between …

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Medical Experts Raise Alarm After Trump Pressures VA To Buy “Truckloads” Of Controversial Antidepressant

The Guardian reports: Personal interest from Donald Trump appears to have put a controversial antidepressant on a fast track at the Department of Veterans Affairs (VA) that shoved aside usual protocols, even though experts inside and outside the government have serious concerns the drug is effective and say it may be dangerous. Sources inside the Department of Veterans Affairs say …

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Pharma Douche Sues Former Company From Prison

The New York Daily News reports: Takes one to know one. Imprisoned “Pharma Bro” Martin Shkreli sued three former colleagues Friday over his ouster from the unethical pharmaceutical company he founded, alleging they were “driven by their egos, jealousy, and greed.” The notorious Brooklyn-born troll is serving seven years for securities fraud. His lawsuit describes a Bizarro Shkreli who was …

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GOP Reps Defend Big Pharma At Drug Prices Hearing: The Left Is “Demonizing” Gilead For Making A Profit

The Hill reports: Republican members of Congress defended Gilead, the leading manufacturer of HIV drugs in the U.S., during a testy hearing Thursday focused on the prices of its products. “I just cannot understand why we are spending time sitting here listening to people lecturing companies about making money. I hope you make a lot of money,” Rep. Chip Roy …

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Activists File Class Action Suit Against Major Pharma Companies, Allege Conspiracy To Delay HIV Generics

STAT News reports: In a bid to maintain its dominance in the HIV market, Gilead Sciences (GILD) allegedly conspired with other drug makers whose medicines were part of a so-called combination cocktail in order to block generic competition, according to a lawsuit filed by AIDS activists and two unions. The complaint describes an unusual scheme concerning these cocktails, which are …

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New Rules Require Prices In Television Drug Ads

Axios reports: The Trump administration finalized a rule Wednesday that will require pharmaceutical companies to post the list prices of their drugs in TV commercials. The drug industry may sue to block the rule, and many people are skeptical that publishing prices in ads would help patients or successfully shame drugmakers into lowering their prices. But the rule is another …

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Pharma Douche Heads For Tougher Federal Prison

The New York Daily News reports: “Pharma Bro” Martin Shkreli has been transferred out of his low-security prison and hauled back to Brooklyn after a report he was still running his business and tweeting with a contraband cell phone. Shkreli, 36, who’s serving seven years in a federal prison for defrauding investors, has been moved from the prison at Fort …

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Prison Tosses Pharma Douche Into Solitary Confinement

Forbes reports: The much-maligned pharmaceutical businessman and uber troll Martin Shkreli has been put in solitary confinement at Federal Correctional Institution in Fort Dix, New Jersey, Forbes has been told by two sources with knowledge of the situation. That came after the Wall Street Journal described how he was using a contraband phone to run his pharma business from behind …

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New York Hits Opioid Maker Family With Massive Suit

CBS News reports: New York state prosecutors on Thursday filed a lawsuit against Purdue Pharma and the family that owns the OxyContin-maker, alleging they fraudulently transferred funds out of the company. The complaint also adds charges previously filed against other companies that made and distributed opioids. “We found that pharmaceutical manufacturers and distributors engaged in years of deceptive marketing about …

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Purdue Pharma Settles First Opioid Suit For $270M

The Daily Beast reports: Purdue Pharma and its owners, the Sackler family, will pay $270 million to settle claims by the Oklahoma attorney general that the company helped fuel America’s opioid crisis, The Wall Street Journal reports. It’s the first settlement to be agreed upon from more than 1,600 opioid lawsuits the OxyContin maker faces various from states, cities, and …

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Federal Prisons Bureau Investigates Pharma Douche For Secretly Running Business With Contraband Phone

The Wall Street Journal reports: The U.S. Bureau of Prisons opened an investigation into pharmaceutical wunderkind Martin Shkreli’s behavior behind bars, a bureau spokesperson said Friday. The Wall Street Journal reported Thursday that Mr. Shkreli, 35 years old, is largely running his former drug company, Phoenixus AG, from his prison cell in Fort Dix, N.J., via a contraband smartphone. Mr. …

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FDA Approves Ketamine Nasal Spray For Depression

The Wall Street Journal reports: The Food and Drug Administration approved a controversial drug for depression that could be the first of a long-awaited wave of new treatments, but that has also raised concerns about abuse. The drug, a nasal spray that manufacturer Johnson & Johnson JNJ 0.21% has branded Spravato, is a close chemical relation to ketamine. Ketamine is …

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Opioid Maker Purdue Readies Bankruptcy Over Lawsuits

Reuters reports: OxyContin maker Purdue Pharma LP is exploring filing for bankruptcy to address potentially significant liabilities from thousands of lawsuits alleging the drug manufacturer contributed to the deadly opioid crisis sweeping the United States, people familiar with the matter said on Monday. The deliberations show how Purdue and its wealthy owners, the Sackler family, are under pressure to respond …

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Pharma Giant To Sell Generic Version Of Insulin Drug

The New York Times reports: The drugmaker Eli Lilly will begin selling a cheaper version of its most popular insulin, Humalog, in an effort to head off criticism about the rising costs of prescription drugs, the company said Monday. Lilly will begin selling an “authorized generic” of Humalog 100 for $137.35 per vial, a 50 percent discount off the list …

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