Trumps talks tough on drugs pricing, puts companies under pressure
The Dollar Business BureauPresident-elect Donald Trump bashed global drug manufacturing companies for overpricing their drugs and warned that they will have to deal with more competitive bidding practices for federal contracts during his administration. Addressing his first press conference post-election, Trump said many companies were "getting away with murder" and that everything will change once he settles down in the White House. Several drug companies have been criticised in the recent past for excessive hike in their drugs prices. Dow component Pfizer (PFE) has witnessed the wrath of the Congress for overpricing its life-saving allergy medication EpiPen. Allergan (AGN) and Valeant (VRX) have also been criticised for raising drug prices. Trump's tough talk about drug prices has generated negative sentiments amongst investors, who ...
Indian pharma major to acquire two US firms, deal worth $550 mn
The Dollar Business Bureau Cipla EU, the UK arm of the Mumba-based Cipla Ltd., has entered into definitive agreements to acquire two US-based firms— InvaGen Pharmaceuticals Inc and Exelan Pharmaceuticals Inc. The deal which is subject to certain closing conditions is valued at $550 million. This acquisition, which is being seen as the second landmark acquisition in Cipla’s history, will give the company scale in the US generics market through a wide range of product portfolio in CNS, CVS, anti-infectives, diabetes as well as other value added generic drugs, , the company said in a statement on Friday. While acquisition of InvaGen, a skilled R&D organization, offers a large capacity manufacturing base in Hauppauge, New York, Exelan provides Cipla with an access ...
