Archive: June, 2012
Bristol-Myers Squibb announced Friday night that it has agreed to buy San Diego-based Amylin Pharmaceuticals for $5.3 billion and then struck a secondary deal with AstraZeneca, whose regional headquarters is in Wilmington.
Bristol-Myers is based in New York, but the company has five New Jersey facilities.
Bristol-Myers won a bidding competition with several other pharmaceutical companies for Amylin, which has a couple key products in the diabetes category. Bristol-Myers will pay cash for Amylin, and then also assume Amylin debt and make a required payment to Eli Lilly and Co., Inc., which makes the total cost to be $7 billion.
The Supreme Court's decision Thursday to uphold most of the Patient Protection and Affordable Care Act means different things to different people at different moments, sometimes depending on which hat they are wearing.
The pharmaceutical industry was sort of, somewhat, temporarily happy, but wants more from the deal.
Medical device companies are, generally, not happy at all.
The Supreme Court upheld most of the Patient Protection and Affordable Care Act by a 5-4 vote and a link to the decision is here.
The main part struck down was the threat that the federal government would withhold all of its Medicaid contribution to a state if the state did not increase coverage.
University of Michigan business professor Erik Gordon said the decision is somewhat good for pharmaceutical companies and bad for medical device companies.
The Physician Payments Sunshine Act is part of the Patient Protection and Affordable Care Act, all of which hangs in the balance Thursday morning when the U.S. Supreme Court will likely rule on the constitutionality of all or parts of the package.
One legal possibility is that the court could decide to defer a decision until the law is fully implemented in 2014, but the betting line has the nine justices making history, one way or another. And, yes, there is a betting line.
The Sunshine Act requires pharmaceutical and medical device companies to report payments made to doctors and teaching hospitals. It is designed to give patients and others more information and shed light on potential conflicts of interest. The question is whether a doctor paid by a company is more inclined to prescribe that company's drug over a competitor's drug or no drug because of his or her financial relationship with the first company, regardless of the effect on the patient.
The funding process for the U.S. Food and Drug Administration is odd, no less so because it sometimes leads to rare Congressional bipartisanship and compromise.
One odd part is that while the taxpayers pay some of the bill for FDA operations, user fees from drug and device companies pay for much of the rest in those realms.
In the latest bill (the FDA Safety and Innovation Act), that will amount to $6 billion over the five-year life of the newest incarnation of the law. The difference this time is that generic and biosimilar companies will have to kick in money for the first time.
If you are a patient or parent who can't get medicine you or your child needs to survive or live better, business profit prospects and government policies don't matter much.
However, in a system with free enterprise but also taxpayers paying much of the drug bill, both are very real factors in how, when, where and at what price drugs are sold.
Two aspects of that arose Monday, one in Philadelphia and another in Europe.
The Horsham-based Drug Information Association will hold its 48th annual meeting beginning Monday morning at the Philadelphia Convention Center
The theme of this year's convention is "Collaborate to Innovate." Meetings, panels and forums run through Thursday. A link to the official program is here.
Mayor Michael Nutter is scheduled to welcome the approximately 7,500 attendees Monday morning.
One finding in KPMG's latest survey of pharmaceutical executives in a way reflects the conundrum of efforts to fix health care in America: People in every sector want to get more or make more money, while paying less and avoiding paperwork. Most patients are no different.
In May, KPMG asked 107 executives about their concerns in its 2012 Pharmaceutical Outlook Survey.
Sixty percent of executives said regulatory and legislative pressures are the most significant barrier to their company’s growth over the next year and 50 percent of executives said increasing regulation and enforcement was the top concern for their company’s future. Last year's top concern was patent expirations of key therapies and generic.