Biogen Agrees To Pay $22M To Settle Medicare Kickback Allegations
Other pharmaceutical and biotech news is on AbbVie, Path-Tec and Coherus Biosciences.
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Biogen To Pay $22 Million For Illegally Using Charities To Pay Kickbacks To Medicare Patients
Biogen (BIIB) has agreed to pay $22 million to resolve allegations that donations it paid to charities were actually kickbacks to Medicare patients used to cover out-of-pockets costs for its multiple sclerosis medicines. This is only the latest instance in which federal authorities have cracked down on such arrangements between drug makers and patient assistance charities. (Silverman, 12/17)
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AbbVie Wins 21 Months Of Wrinkle-Free Competition For Botox Thanks To An ITC Ruling
In a victory for AbbVie (ABBV), the U.S. International Trade Commission decided that imports of a rival to its Botox wrinkle treatment must be halted for 21 months. The ruling came in response to a complaint filed last year by Allergan, which AbbVie has since acquired, alleging that a pair of rival companies — Evolus (ELOS) and Daewoong Pharmaceuticals — stole trade secrets that were used to develop a new wrinkle-smoothing product called Jeuveau. (Silverman, 12/17)
AP:
Medical Specimen Kit Company To Hire 350, Investing $5M
A company that makes and assembles medical specimen kits will more than double its number of employees in Columbus, adding 350 workers as it invests $5 million. Path-Tec announced its plans Thursday. The expansion will bring its employment to 565 in Columbus, where the company began operations in 2005. (12/17)
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This Tiny Biotech Is The Loudest Critic Of Trump’s New Drug Pricing Policy
A tiny biosimilar company called Coherus Biosciences is emerging as one of the loudest critics of President Trump’s plan to tie what the U.S. pays for pricey injectable drugs to what other countries pay. In the three weeks since the Trump administration unveiled the controversial policy, the company has had roughly a dozen conversations with Trump administration officials, inserted itself into the ongoing lawsuit against the policy filed by the Biotechnology Innovation Organization, and already filed sharply worded comments on the regulation — six weeks ahead of the official deadline. (Florko, 12/16)
