Sanders, Democrats To Investigate Asthma Inhaler Prices
Sen. Bernie Sanders (I-Vt.) joined a group of Senate Democrats to say that they are looking into the high cost of asthma inhalers: The group wrote to CEOs of four of the biggest manufacturers. Meanwhile, GSK said Tuesday it would buy asthma drug-focused Aiolos Bio for $1 billion.
The Hill:
Sanders, Democrats Launch Investigation Into Asthma Inhaler Pricing
Sen. Bernie Sanders (I-Vt.) and a group of Senate Democrats on Monday announced an investigation into the high costs of asthma inhalers. Sanders, chairman of the Senate Health, Education, Labor and Pensions (HELP) Committee, sent letters to the CEOs of the four biggest manufacturers of inhalers sold in the United States — AstraZeneca, Boehringer Ingelheim (BI), GlaxoSmithKline (GSK) and Teva — demanding information and documents on internal strategic communications, patient assistance programs and the costs involved in the manufacturing of inhalers. (Weixel, 1/8)
Stat:
GSK To Buy Asthma-Focused Aiolos Bio In $1 Billion Deal
GSK said Tuesday it would purchase the asthma-focused drug developer Aiolos Bio for $1 billion upfront, the latest in a string of pharma acquisitions that are bolstering hopes for the industry’s year ahead. The deal includes up to another $400 million in payments if certain milestones are met. (Joseph, 1/9)
Warnings over a common asthma drug —
The New York Times:
The F.D.A. Warned an Asthma Drug Could Induce Despair. Many Were Never Told.
In early 2020, the Food and Drug Administration responded to decades of escalating concerns about a commonly prescribed drug for asthma and allergies by deploying one of its most potent tools: a stark warning on the drug’s label that it could cause aggression, agitation and even suicidal thoughts. The agency’s label, which was primarily aimed at doctors, was supposed to sound an alert about the 25-year-old medication, Singulair, also known by its generic name, montelukast. But it barely dented use: The drug was still prescribed to 12 million people in the United States in 2022. (Jewett and Mueller, 1/9)
More on the high cost of drugs —
Reuters:
Canada Says Bulk Importation Not An Effective Solution To High Drug Prices In US
The Canadian government thinks bulk importation will not provide an effective solution to the problem of high drug prices in the United States after the U.S. Food and Drug Administration allowed Florida to import cheaper drugs from Canada, Health Canada said on Monday. (Singh, 1/8)
Reuters:
Walgreens To Pay $360 Million To Humana In Drug Pricing Settlement
Walgreens has agreed to pay $360 million to healthcare insurer Humana to settle a lawsuit claiming that the retail pharmacy giant for years overcharged for prescription drug reimbursements. U.S. District Judge Ana Reyes on Friday dismissed the Washington, D.C., federal court lawsuit after Walgreens disclosed the settlement in a court filing. The amount was shown in a filing with the U.S. Securities and Exchange Commission. (Scarcella, 1/8)
In other pharmaceutical news —
Bloomberg:
J&J To Pay $700 Million To Settle States’ Talc Baby Power-Marketing Probe
Johnson & Johnson has tentatively agreed to pay about $700 million to resolve an investigation by more than 40 US states into claims that it wrongfully marketed its talc-based baby powder by not warning about possible health risks, according to people familiar with the deal. The settlement would avert potential lawsuits alleging that J&J hid any links between the talc in its powder and various cancers, according to the people, who asked not to be named because the pact isn’t yet public. (Feeley, 1/8)
Stat:
Boston Scientific Acquires Urology Company Axonics For $3.7 Billion
Boston Scientific said it will buy Axonics, a device company treating urinary and bowel disorders, on Monday. The deal is worth $3.7 billion. It’s the first billion-dollar medical device deal of 2024 — a rare occurrence in 2023, which saw just a handful of medtech acquisitions reaching the billion threshold.
(Lawrence, 1/8)
Reuters:
Drugmakers Kick Off Industry Conference With Two Cancer Deals
Johnson & Johnson and Merck on Monday announced plans to buy cancer therapy developers on the first day of a major U.S. healthcare conference, igniting what industry participants hope will be a strong year for deals after a solid end to 2023. Deals announced on Monday had a combined equity value of more than $6 billion, including one by medical device maker Boston Scientific for Axonics Inc. That follows roughly $25 billion worth of U.S.-listed biotech deals last month, according to data provider LSEG Deals Intelligence. (Satija and Roy, 1/8)
Stat:
JPM 2024: Biotech’s Most Prolific Dealmaker Sees A Rosy 2024
Eric Tokat, biotech’s most prolific dealmaker, believes 2024 will be another strong year for acquisitions, driven by Big Pharma’s need to restock pipelines with medicines that can generate sales in the coming years. (Feuerstein, 1/8)
