Pharma Industry Anxiously Waits For Shoe To Drop Over Drug Prices
As high costs draw attention from lawmakers, 2016 candidates and the public, drug companies are anxious about regulations the administration may be brewing up. In other pharmaceutical news, McKesson acquires two cancer-focused firms, and the newly confirmed head of the Food and Drug Administration talks to The Washington Post about the battle over his ties to the industry.
The Hill:
Drug Industry On Edge For Obama Action On Prices
The pharmaceutical industry is anxiously awaiting a series of regulatory actions from the Obama administration aimed at combating high drug prices. Drug prices have been a major issue on the campaign trail, with Hillary Clinton and Bernie Sanders pounding pharmaceutical companies. (Sullivan, 2/26)
The Wall Street Journal:
McKesson To Buy Two Cancer-Focused Firms For $1.2 Billion
McKesson Corp. agreed to acquire cancer-care company Vantage Oncology LLC and oncology pharmacy-services firm Biologics Inc. in separate deals with a combined value of roughly $1.2 billion. McKesson’s shares rose 3.5% to $160.08 in recent premarket trading. The San Francisco company said the acquisitions will expand the scale of its specialty-drug distribution operations and increase its other capabilities, including its cancer-focused pharmacy offerings. (Stynes, 2/25)
The Washington Post:
New FDA Head Robert Califf Vows To Use ‘Bully Pulpit,’ Better Explain Agency Decisions
Robert Califf, a longtime Duke University cardiologist and researcher, was confirmed as the next leader of the Food and Drug Administration this week by a wide margin. The Senate voted 89 to 4 in favor of placing Califf in the agency's top post, where he replaces former FDA commissioner Margaret A. Hamburg. ... Aside from a confirmation hearing last fall, in which he defended his past work and said he had no intentions of lowering the FDA's standards for safety and effectiveness of drugs and devices, Califf largely remained silent. But after winning confirmation Wednesday, he spoke in a brief interview with the Post about his priorities as FDA commissioner. (Dennis, 2/25)
