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Bristol-Myers says Starboard nominated five directors, bought shares

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FILE PHOTO: Logo of global bioPharmaceutical company Bristol-Myers Squibb is pictured on the blouse of an employee in Le Passage, near Agen, France March 29, 2018. REUTERS/Regis Duvignau/File Photo BOSTON (Reuters) – Bristol-Myers Squibb Co. said on Wednesday that activist hedge fund Starboard Value LP wants to add five directors to its board and bought Read More

U.S. settles with Teva over keeping generic drugs off market

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WASHINGTON (Reuters) – The U.S. government has reached a settlement with Teva Pharmaceuticals Industries Ltd over charges that its agreements with rivals impeded consumer access to lower-priced generic drugs. FILE PHOTO: The logo of Teva Pharmaceutical Industries is seen during a news conference hold by its CEO, Kare Schultz, to discuss the company’s 2019 outlooks Read More

Blockchain could be a game changer for tracking medications

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You may not have heard of blockchain, but it’s set to make a big splash in the tech world, the law enforcement world, and a doctor’s office near you! Blockchain is a way of storing and sharing data, originally conceived for use with digital currency like bitcoin, but now it could be transformed into a Read More

Pence says EU must withdraw from Iran deal & stop trying to ‘break up’ sanctions on ‘vile regime’

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US Vice-President Mike Pence has demanded that Europe withdraw from the Iran nuclear deal and lashed out at the EU’s efforts to evade Washington’s sanctions on Tehran. Speaking at a security conference in Warsaw, Pence chastized Europe for leading an “effort to create mechanisms to break up our sanctions” against Iran, and complained that European Read More

J&J becomes first drugmaker to add prices to television ads

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FILE PHOTO: A Johnson & Johnson building is shown in Irvine, California, U.S., January 24, 2017. REUTERS/Mike Blake/File Photo CHICAGO (Reuters) – Johnson & Johnson said on Thursday it will start adding the price of its medicines to television commercials by next month, becoming the first drugmaker to heed a call by U.S. President Donald Read More

Medicare Part D no match for runaway specialty drug costs: study

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CHICAGO (Reuters) – When Medicare prescription drug insurance was created in 2003, the idea that beneficiaries with very high drug costs should pick up 5 percent of the tab seemed reasonable – but that was well before specialty drugs were invented that carry price tags in the tens of thousands of dollars. FILE PHOTO: A Read More

At least four pharma CEOs to testify at Senate drug pricing hearing

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NEW YORK (Reuters) – Drugmakers Pfizer Inc, Bristol-Myers Squibb Co and Sanofi SA said on Wednesday that their chief executives plan to testify at a Senate hearing on rising prescription drug prices later this month. FILE PHOTO: Sanofi’s Chief Executive Officer Olivier Brandicourt attends the company’s shareholders meeting in Paris, France, May 2, 2018. REUTERS/Charles Read More

Exclusive: Facing crackdown in Canada, drugmakers offered billions in price cuts

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TORONTO (Reuters) – Canadian Pharmaceutical industry lobby groups, in an effort to head off a planned crackdown on prescription drug prices, offered to give up C$8.6 billion ($6.6 billion) in revenue over 10 years, freeze prices or reduce the cost of treating rare diseases, according to interviews and documents seen by Reuters. FILE PHOTO: A Read More

Merck CEO Frazier plans to testify at Senate drug pricing hearing

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FILE PHOTO: Ken Frazier, Chairman and CEO, Merck & Co., speaks during a meeting of the Economic Club of New York in New York City, U.S., October 3, 2018. REUTERS/Brendan McDermid (Reuters) – U.S. drugmaker Merck & Co Inc said on Tuesday that its Chief Executive Ken Frazier plans to testify at a Senate hearing Read More

Appaloosa steps up pressure on Allergan to split chairman, CEO roles

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BOSTON (Reuters) – Hedge fund Appaloosa LP on Tuesday urged Pharmaceutical company Allergan Plc to split its chairman and chief executive roles, arguing that an independent chair could help CEO Brent Saunders boost the company’s sagging share price. FILE PHOTO – The Allergan logo is seen in this photo illustration in Singapore November 23, 2015. Read More