According to the QuintilesIMS Institute’s 2017 Medicine Use and Spending report, Truvada had $3.1 billion in sales on an invoice price basis in 2016, ranking 17th among the top 20 medicines in the U.S. based on invoice spending.
The National Association of Chain Drug Stores and the American Pharmacists Association shared their concerns with the Trump Administration about the potential impact of drug importation on patient safety and the delivery of value-based care.
Mallinckrodt, in an effort to focus more on branded products, is looking for a buyer for its generics division who could pay as much as $2 billion for the business, according to a Reuters report. Reuters noted that the company’s generics sales have dropped roughly 18% between 2015 and 2016 — a period during which its branded specialty sales grew by some 40%, partially through acquisitions. (Reuters)
Appearing before the House Subcommittee on Agriculture, Rural Development, Food and Drug Administration and Related Agencies, Food and Drug administration commissioner Dr. Scott Gottlieb outlined plans to address pressing generics industry issues.
India-based Cipla announced May 25 that it would be cutting its investment in its biosimilars development arm to focus on respiratory products, Reuters reported. The company has halted plans to invest $1.3 billion in building a biotechnology plant in South Africa and is on the lookout to partner with other companies on its already existing biosimilars efforts, the report said. "We are not moving away from biosimilars. However, we are not in the aim to make them at $1 a day,” Cipla CEO Umang Vohra said. (Reuters)