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Pharmaceutical Industry Business Risk Management News Views Reviews
28th August 2017 – Pharmaceutical Gossip!
Shares in Kite Pharma have skyrocketed after reports that it will soon be taken over. According to the Wall Street Journal, Gilead Sciences has bid $11 billion.
8th February 2017 – GSK Immediate Outlook Secure
GlaxoSmithKline has relatively long patents and is benefiting from the low value of the pound. Mid-2017 could see it lose exclusivity for its Advair drug in USA, but that is the only potential blot on the foreground, though the mid-term risks include Donald Trump’s new policies affecting the pharmaceutical industry.
30th January 2017 – Boost To Pharmaceutical Business Confidence In UK
Novo Nordisk, the world’s top maker of diabetes drugs, is investing £115 million in new research centre in Britain despite the UK leaving the European Union (EU). It is investing in its centre in Oxford due to the quality of its existing science base and the way science takes advantage of commercial opportunities. It would appear that Novo Nordisk, a Danish company, is not overly concerned about managing the risks from Brexit including research funding and regulatory compliance issues of global trading.
The centre already has 100 scientists researching new treatment for type 2 diabetes.
12th January 2017 – Trump’s Comments About Pharmaceutical Industry Knocks Pharmaceutical Company Share Prices
In Donald Trump first media conference since the November presidential election result, he said that pharmaceutical companies had been “getting away with murder”. His comments were taken to herald some sort of pricing limitation that may reduce pharmaceutical firms earnings in future, which means that share prices were understandably affected.
11th January 2017 – Shire Pharmaceuticals Pays USA Regulatory Authorities $350m
It is alleged that Shire Pharmaceuticals used illegal kickbacks to persuade doctors and dispensers to buy products.
USA Department of Justice (DoJ) alleged that salesmen for Dermgraft (Shire owned a company called Advanced BioHealing with various products including Dermagraft) offered doctors and clinics “inducements” like entertainment, holidays, cash and bogus case studies to get them to use Dermagraft as opposed to a competitors product.
The agreed settlement with the DoJ is the largest ever of its kind in a case involving kickbacks for medical device.
“Giving kickbacks and gratuities to healthcare providers corrupts medical treatment by interjecting personal incentives into decisions that should focus on what is best for a particular patient.” US Attorney for the District of Columbia, Channing Phillips.
16th December 2016 – Actavis Accused Of 12,000% NHS Price Rise For Drug
Actavis has been accused by the competition watchdog of raising the price of a live-saving drug by 12,000% from April 2008 to March 2016. A different company used to charge £0.70 per pack of hydrocortisone. Actavis charged £88.00 in March 2016, according to the watchdog. The Competition and Markets Authority further alleges the company has broken competition law by charging “excessive and unfair prices”. NHS spending on the drug was £0.5 million in 2008 and rose to £70 million due to the price rise for the drug which the NHS has to buy to save lives.
— Risk Management (@HolisticRiskMgt) December 1, 2016
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