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)
Under the law, which was signed by President Barack Obama in December 2016, the payment structure for infusion drugs under Medicare Part B changed from an average wholesale price to an average sales price.
“Pharmacists need to understand what’s happening around them regarding the availability of precision medicines and their profiles,” Murray Aitken, executive director of the Quintiles IMS Institute and co-author of the report, said during the International Pharmaceutical Federation 6th Pharmaceutical Sciences World Congress.