Morning Briefing
Summaries of health policy coverage from major news organizations
Mylan's EpiPen Pricing Explanation To Senate 'Incomplete,' According To Judiciary Chairman
Bloomberg: Mylan Response On EpiPen Doesn’t Satisfy Senate Chairman
U.S. Senate Judiciary Chairman Chuck Grassley said the seven-page response by drugmaker Mylan NV to his questions about significant EpiPen price hikes is incomplete and not sufficient. ... Mylan sent Grassley the letter on Sept. 8. The company declined to comment beyond referring to the letter. Grassley said Mylan didn’t say much about how it decided to raise prices or describe any product features or value that the company says helped justify the price hikes. (Dennis and Hopkins, 9/9)
CNN Money: EpiPen Maker Still Has Explaining To Do
The price of an EpiPen two-pack has jumped to about $600, about $500 more than in 2009. Some parents launched an online petition asking Congress to stop the "price gouging." Mylan has not cut the cost but did begin offering $300 savings cards for patients who have to pay full price for the EpiPen, which injects a dose of epinephrine to stop life-threatening allergic reactions. (Disis, 9/9)
The Wall Street Journal: Big Pharma, Not Small Investors, Is Driving Biotech Values Now
The needs of big drugmakers are driving the stock-price outlook of smaller biotech companies. That suggests the brightening investment environment could stick around. The biotech market has heated back up after an ugly start to the year. Placid markets have lowered the cost of issuing equity, and deals are back on the table now after a lull. The recent sale of Medivation to Pfizer fetched $14 billion including debt, far more than investors expected, with no shortage of suitors. Despite Friday’s selloff, the Nasdaq Biotechnology Index has returned 8.5% over the past six months. Smaller companies generally have done better. (Grant, 9/11)
