Burwell Says Administration Is Pursuing ‘Every Option’ To Address High Prescription Drug Costs
In other news, drug maker Mylan reaches $7.2 billion deal to buy the Swedish company, Meda, which has a portfolio of specialty generic and over-the-counter products. With the purchase, Mylan will gain access to new markets.
Modern Healthcare:
Burwell Says Administration Is Doubling Down On Drug Price, Opioid Battles
HHS Secretary Silvia Mathews Burwell told lawmakers Wednesday the administration is "pursuing every administrative option" for addressing high prescription drug prices, starting with a few provisions in President Barack Obama's fiscal 2017 budget. Sen. Jim McDermott (D-Wash.) said he supports the budget's call for allowing the HHS secretary to negotiate with pharmaceutical companies on prices for biologics and particularly expensive drugs. (Muchmore, 2/10)
The Wall Street Journal:
Mylan Reaches $7.2 Billion Deal For Sweden’s Meda
Mylan NV said Wednesday that it has agreed to buy Swedish pharmaceutical company Meda AB for $7.2 billion in cash and stock, while the drug maker also reported slower-than-expected growth in its fourth quarter. Mylan said the deal to buy Meda will build on its portfolio of specialty generic and over-the-counter products. The acquisition will also give Mylan access to new markets like China, Russia and the Middle East. (Dulaney, 2/10)
The Associated Press:
Mylan To Buy Sweden’s Meda AB For $7.2 Billion
Drugmaker Mylan says it will buy Meda AB of Sweden for $7.2 billion in cash and stock, and says the move will help it enter new markets. Mylan valued the deal at $9.9 billion including Meda’s debt. It said Wednesday Meda’s board and largest shareholders support the sale. Meda says about 60 percent of its sales come from prescription drugs. Key products include drugs that treat respiratory conditions, skin ailments, and pain and inflammation. (2/10)
