Supreme Court hears arguments surrounding healthcare law
WASHINGTON — The U.S. Supreme Court justices have gathered this week to discuss a potential legal issue surrounding President Obama’s healthcare law.
This week, the Supreme Court justices heard arguments for 90 minutes surrounding a legal issue pertaining to the Patient Protection and Affordable Care Act. The issue at hand is that "taxpayers who don’t purchase health insurance will have to report that omission on tax returns for 2014 and will pay a penalty along with federal income tax. At issue is whether that penalty is a tax," according to the Associated Press.
Meanwhile, last Friday marked the two-year anniversary of the enactment of the Patient Protection and Affordable Care Act. In line with the anniversary, the White House issued a report that aimed to highlight the benefits of the healthcare law. According to the Department of Health and Human Services secretary Kathleen Sebelius, new data found that seniors saved more than $3.2 billion on prescription drugs under the new healthcare law, while savings for seniors included a one-time $250 rebate check to those who hit the "donut hole" coverage gap in 2010 and a 50% discount on covered brand-name drugs in the donut hole in 2011.
Click here for the full report from AP.
FDA approves Teva allergy drug
JERUSALEM — The Food and Drug Administration has approved a drug made by Teva for treating allergies, the company said Monday.
Teva announced the approval of Qnasl (beclomethasone dipropionate) for seasonal and year-round nasal allergies in patients ages 12 years and older. The company said the drug, a "dry" nasal aerosol, would become available next month.
"There are some patients with allergic rhinitis who report dissatisfaction with the currently available therapies," Dallas Asthma and Allergy Center allergist Gary Gross said in a statement on behalf of Teva. "The approval of Qnasl offers these patients a safe and effective treatment option with a new dry mode of delivery."
Impax Labs, Tolmar enter collaboration agreement
HAYWARD, Calif., and FORT COLLINS, Colo. — Impax Labs has partnered with a pharmaceutical research, development, manufacturing and commercial operations company on a multiproduct agreement.
Impax Labs and Tolmar will develop, supply and distribute alternative dosage form products. The products and terms of the agreement were not disclosed; however, Impax Labs president and CEO Larry Hsu said the new agreement "represents an ideal extension of [our] initial product agreement."
"In the past two years, we have entered into four distinct partnerships for alternative dosage form products as we continue to execute our strategy of diversifying our product base," Hsu said. "Our business development activities will continue to focus on delivering growth from high-value products, technologies and businesses in complementary dosage forms."
Added Tolmar CEO Mike Duncan, "We are very pleased with this agreement. Tolmar is once again recognized as a key player in the specialty pharma space. This agreement is aligned with our long-term corporate strategy and we firmly believe that Impax is the right partner for these products."