Providers get their chance this week to tell federal officials what they think of a plan to curtail spending in a popular, yet controversial, drug discount program.
As policymakers and the drug and device industry look for new ways to bring treatments for life-threatening conditions to the market sooner, providers are concerned that expedited approvals could compromise patient care.
The American Medical Association says doctors and their patients, not pharmacy benefit managers, should determine opioid treatment plans, criticizing Express Scripts' plan to limit the number and strength of opioid drugs prescribed to first-time users.
Cincinnati and South Carolina are the latest to sue drug distributors and manufacturers for allegedly fueling the opioid crisis by filling suspicious drug orders. Companies call the efforts "misguided."
Opioid makers pay tens of millions of dollars to doctors, raising concerns that the payments may affect prescribing habits.
Martin Shkreli, the eccentric former pharmaceutical CEO notorious for a price-gouging scandal and for his snide "Pharma Bro" persona on social media, was convicted on federal charges he deceived investors in a pair of failed hedge funds.
U.S. regulators have approved the first drug to treat all forms of hepatitis C in as little as eight weeks.
"In terms of overall drug costs, as long as it takes $2.5 billion in 10 years to get a product to market, it is going to be challenging. So, looking at ways to modernize and reduce those development cycles is really important."
The bill, which now awaits the president's approval, has received broad support from medical device and pharmaceutical groups as a means to add more certainty and efficiency to the product review process.
The Dublin, Ohio-based pharmaceutical and medical products distributor saw its pharmaceutical segment profit drop 7% to $505 million as companies along the pharmaceutical supply chain have taken a financial hit resulting from the increasing scrutiny surrounding surging drug prices.
Pfizer second-quarter earnings jumped thanks to rising sales of key drugs, but its overall revenue declined as the drugmaker was dogged by increased biosimilar competition and the divestiture of Hospira Infusion Systems.
There has been a recent wave of consolidation among contract research organizations as companies look to grow their pharmaceutical services and cut costs.