PHARMACY

Abbott agrees to pay $28 million in Texas settlement

BY Alaric DeArment

SAN ANTONIO Abbott Laboratories and Texas’ attorney general’s office have reached a settlement concerning allegations that Abbott had provided inflated drug price information to state and federal Medicaid programs.

Abbott has denied wrongdoing, but under the settlement, it will pay $18 million to the state and $10 million in costs related to the case.

The law requires drug makers to report prices for their drugs when selling them to wholesalers, distributors and pharmacies. Medicaid programs use the pricing information to calculate what Medicaid providers will have to pay for the drugs.

The settlement is one of several that the state attorney general’s office has made with drug companies over pricing, including producers of branded and generic drugs.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
PHARMACY

Glue-like bacterial sugar could lead to vaccine

BY Alaric DeArment

LONDON A study has found that when manipulated with chemicals, a sugar that drug-resistant bacteria secrete triggered an immune response in animals.

The study, presented last week at the Dublin, Ireland, meeting of the Society for General Microbiology used a glue-like sugar that bacteria produce to protect themselves from antibiotics called PNAG.

PNAG alone does not produce an immune response in most people and animals, but the researchers, from the Harvard Medical School, hope that formulations of it do.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?
PHARMACY

FDA announces likely delay on Novo Nordisk diabetes drug

BY Alaric DeArment

WASHINGTON The Food and Drug Administration has announced that it will be unable to meet the user fee deadline for a timely approval of Novo Nordisk’s drug liragludite.

The FDA will not be able to make an approvability decision until March 23 for the drug, a treatment for Type 2 diabetes. Novo Nordisk had submitted an approval application for the drug on May 23.

The standard review period for FDA action on approval applications is 10 months. Because the agency’s advisory committee meeting will take place shortly before March 23, however, its decision will probably be delayed by a further two months, the company said.

keyboard_arrow_downCOMMENTS

Leave a Reply

No comments found

TRENDING STORIES

Polls

Which area of the industry do you think Amazon's entry would shake up the most?