State Lawmakers Look For Ways To Blunt Rising Drug Prices
A growing number of state legislatures are weighing bills to force drug makers to disclose their costs to justify price increases. Meanwhile, Quest Diagnostics reports revenue growth while AstraZeneca's profit falls as a patent expires on its bestselling heartburn drug.
The Wall Street Journal:
Drug Prices Trend Up, And States Want To Know Why
Should drug makers be required to disclose their costs to justify rising prices? This is what a growing number of state legislatures are considering. Over the past several weeks, lawmakers in a handful of states stretching from California to Massachusetts have introduced bills in a bid to force the pharmaceutical industry to conduct an economic striptease. (Silverman, 4/23)
The Wall Street Journal:
Quest Diagnostics Revenue Grows 5.3% As Business Environment Improves
Quest Diagnostics Inc. said Thursday that revenue grew 5.3% in its first quarter as the laboratory-testing company benefits from growth in its diagnostics business and an improving environment. Core profit narrowly topped Wall Street expectations, while revenue was in line. (Dulaney, 4/23)
The Associated Press:
AstraZeneca Profit Falls As Patent Expires On Heartburn Drug
Anglo-Swedish drug-maker AstraZeneca PLC reported a 7 percent fall in net profit for the first quarter of 2015, as cheaper copies of one of its bestsellers ate into sales. Sales were hit by the U.S. patent expiring on heartburn drug Nexium. The patent on cholesterol drug Crestor, another big seller, expires next year. (4/24)
