Cancer, Diabetes Drugs Drive Johnson & Johnson Profits
The world's biggest producer of health-care treatments reported quarterly earnings that topped analysts' estimates. Meanwhile, federal investigators say they will probe the impact of generic drug price increases on the Medicaid drug rebate program.
Bloomberg:
Johnson & Johnson Profit Tops Estimates As Drug Sales Rise
Johnson & Johnson, the world’s biggest maker of health-care products, reported quarterly earnings that topped analysts’ estimates as new cancer and diabetes treatments helped push drug sales higher. The results underscore the company’s push to replenish its product lineup as drugs such as hepatitis C treatment Olysio and blood thinner Xarelto face new competition. (Koons, 4/14)
The Wall Street Journal's Pharmalot:
Feds To Probe Impact Of Generic Drug Price Increases On Medicaid
Following prodding from Congressional lawmakers, the Office of the Inspector General of the U.S. Department of Health & Human Services says it will conduct a new review of generic drug price increases on the Medicaid drug rebate program. The agency plans to review price increases between 2005 and 2014 in order to determine the extent to which generic drug prices exceeded the inflation rate, according to a letter the OIG sent to U.S. Sen. Bernie Sanders (I-Vt.) and U.S. Rep. Elijah Cummings (D-Md.). (Silverman, 4/14)
