GlaxoSmithKline To Buy HIV Drugs Pipeline From Bristol-Myers Squibb
In other pharmaceutical news, generic drug maker Endo Health reaches a $39-million fluoride settlement over alleged mislabeling; a report finds the cost of Medicaid-generic drugs have risen faster than inflation; and researchers' financial ties to the industry are explored.
The Wall Street Journal:
GlaxoSmithKline Buys Bristol-Myers Squibb’s HIV Assets
GlaxoSmithKline PLC has agreed to pay Bristol-Myers Squibb up to $1.5 billion to acquire the U.S. company’s pipeline of HIV drugs, a move which will bolster one of the U.K. drug makers’ strongest-performing areas. (Roland, 12/18)
GSK To Buy HIV Drugs From Bristol-Myers Squibb For Initial $350M
Pharmaceutical group GlaxoSmithKline said its majority-owned HIV business would buy drugs at different stages of development from U.S. rival Bristol-Myers Squibb for an initial $350 million. GSK said the acquisitions would provide ViiV Healthcare, its HIV unit in which Pfizer and Shionogi are junior partners, with new opportunities for growth. The British company is reviving its position in HIV treatment as part of its strategy to return to earnings growth in 2016. (12/18)
Endo Health To Pay $39M Over Fluoride Labeling Claims
A generic drug maker owned by Endo International Plc has reached a $39 million settlement with the U.S. government and 47 states stemming from the unlawful labeling of multivitamins that contained fluoride. New York Attorney General Eric Schneiderman announced the settlement on Wednesday. The case stemmed from a 2013 whistleblower lawsuit filed under the False Claims Act in which the U.S. Department of Justice and state attorneys general later intervened. (Baryln and Raymond, 12/16)
Many Generic Drug Prices Outpace Inflation - Report
The prices of many Medicaid-covered generic drugs have increased faster than inflation in recent years, according to a new report from the U.S. Department of Health and Human Services. The report, issued Thursday by HHS's Office of Inspector General, said that if generic drugs had been treated the same way as brand-name drugs under Medicaid, states and the federal government could have gotten at least $1.4 billion in additional rebates from 2005 through 2014. (Pierson, 12/17)
Do Drug-Firm Ties Affect Researchers' Reporting Of Study Results?
Academic scientists who ignore legal requirements to publicly report clinical trial results often have received large payments from drug companies involved in the studies, a STAT review of federal data found. (Piller, 12/17)