Five things for pharma marketers to know: Wednesday, July 26, 2017
1. A federal jury ordered AbbVie to pay $150 million in damages for fraudulently misrepresenting the risks of its testosterone replacement drug AndroGel. More than 6,000 lawsuits have been consolidating in federal court. (Reuters)
2. Celgene agreed to pay $280 million to end a False Claims Act lawsuit alleging that the drugmaker illegally promoted off-label uses for two of its cancer drugs, Thalomid and Revlimid. A whistleblower alleged Celgene paid physicians kickbacks to promote off-label uses of the drugs. (Law360)
3. An Amgen executive told investors during an earnings call that the company is “capturing between 300 and 400 new prescribers per month” for its PCSK9 inhibitor Repatha.
4. Verily took an investment in Freenome, a startup developing technology to detect early-stage cancer. Freenome is a potential competitor to Grail, which also aims to develop technology to detect cancer. (CNBC)
5. Interpublic Group CEO Michael Roth cited political uncertainty and conservative client spending as two reasons why the advertising holding company fell short of expectations on earnings and revenue in the second quarter of 2017. (WSJ)