KemPharm has received FDA approval for its opioid painkiller, Apadaz. In 2016, the agency rejected the drug over concerns about opioid abuse, but KemPharm appealed the decision. The company’s shares were up as much as 36% following the news. (Reuters)
Teva Pharmaceuticals’ generic version of Syprine isn’t much cheaper than the original version, disappointing patients. Teva’s generic version costs 28 times more than its price in 2010. Experts said it’s an illustration of how difficult it is to bring down the cost of drugs that lack generics from multiple players. (The New York Times)
Warren Buffett said the healthcare venture created by Amazon, Berkshire Hathaway, and JPMorgan will go beyond squeezing the middlemen. “It would be very easy I think to go in and shave off 3% or 4% just by negotiating power,” Buffett told CNBC. “We’re looking for something much bigger than that.” (Bloomberg)
Allergan’s creative plan to avoid generic competition for a top-selling medicine is facing a setback. Last fall, the company transferred the rights of its Restasis eye treatment to the St. Regis Mohawk Tribe to avoid a patent challenge. But a U.S. patent appeals board ruled against the Native American tribe’s ability to claim sovereign immunity. (STAT)
The FDA plans to allow drug companies to sell medications that curb opioid cravings, without fully stopping addiction. The change is intended to encourage new treatment solutions for combating the opioid epidemic. (The New York Times)
