Teva Bid For Rival Spurs Anti-Competitive Concerns
The $40 billion bid by the world's largest generic drugmaker is expected to bring scrutiny by antitrust regulators. And Amgen raises forecasts on stronger-than-expected drug sales.
Bloomberg:
Teva Bid For Mylan Sparks Worries Of Rising Generic Drug Prices
A potential $40.1 billion generic-drug merger already has Brad Arthur bracing for a blow to his family-run pharmacy in Buffalo, New York. Arthur has been contending with rising generic drug prices for the better part of two years -- a trend that has drawn Washington’s attention and caused an outcry from consumer advocates. Now the pharmacist says he fears the proposed takeover of Mylan NV by Israel’s Teva Pharmaceutical Industries Ltd. could threaten businesses like his by reducing competition even further. (Koons, 4/21)
Reuters:
Generic Drugmaker Teva Makes $40B Offer For Generic Competitor
Teva Pharmaceutical Industries Ltd on Tuesday made an unsolicited $40 billion offer for smaller rival Mylan NV, a bold bid for growth as its lucrative Copaxone drug faces generic competition. The offer followed weeks of speculation that Israel-based Teva, the world's largest generic drugmaker, would soon target Mylan. Shares of Mylan traded below the offer price of $82 in cash and stock, evidence of investor skepticism that Teva can win over the company, which has set up a defense that includes a poison pill. (Cohen and Humer, 4/21)
The Associated Press:
Teva Offers To Buy Mylan In $40.1-Billion Cash-And-Stock Deal
Generic drug giant Teva formally offered to buy fellow drugmaker Mylan for about $40.1 billion in cash and stock on Tuesday, despite Mylan's cold shoulder and the certainty the proposed acquisition will bring intense scrutiny by antitrust regulators. If Israel-based Teva Pharmaceutical Industries Ltd. succeeded, the combination would dominate the global generic drug market, be a major contender in some other specialty drug categories — and have the leverage to try to raise generic drugs prices. (Johnson, 4/21)
Bloomberg:
Amgen Profit Beats Estimates As Drugmaker Raises Forecast
Amgen Inc., the maker of cancer treatments and blood boosters to combat anemia, reported first-quarter profit that topped analysts’ estimates and raised its forecast for the year on stronger-than-expected drug sales. The shares rose in late trading. (Chen, 4/21)
Meanwhile, health insurer Humana acquires a company that sends nurse-practitioners for home visits.
Modern Healthcare:
Humana Invests Further In Home Health Visits
Health insurer Humana has acquired Your Home Advantage, a Deerfield Beach, Fla.-based company that sends nurse practitioners and other providers to assess and care for patients in their homes. The company will become part of Humana At Home, Humana's home-based services division that was previously known as SeniorBridge Family Cos. Humana bought SeniorBridge in 2012. (Herman, 4/21)
And The Wall Street Journal looks at a ruling in one product-hopping case in advance of a decision on Alzheimers' drug Namenda -
The Wall Street Journal's Pharmalot:
Actavis Wins A ‘Product Hopping’ Case As Namenda Battle Rages On
Four years ago, Warner-Chilcott caused a stir by adding a line, or “score,” to its Doryx tablets that are prescribed for treating acne. The move gained notice because it was seen by some as another effort by a brand-name drug maker to thwart generic competition, since any generic rival would have had to take the same time-consuming production steps to win regulatory approval to sell a copycat version. (Silverman, 4/21)
Earlier related Kaiser Health News coverage: Battle Over Dementia Drug Swap Has Big Stakes For Drugmakers, Consumers