Amazon wants to be a major medical supplier. The company said it is planning to expand its business marketplace to serve hospitals and clinics. Shares of healthcare suppliers, including McKesson and Cardinal Health, dipped following the news. (The Wall Street Journal)
Big Pharma gets a tax cut. Thanks to the Republican tax overhaul, the 13 biggest drugmakers will pay an average tax rate of 18.6% on global earnings this year, down from 20.8% in 2017. (Endpoints)
President Donald Trump’s budget proposal includes more funding for the National Institutes of Health and the Food and Drug Administration, as well as proposals to lower drug costs for Medicare and Medicaid recipients alongside cuts to both programs. It also includes $10 billion to fight the opioid epidemic. (Vox)
Walgreens is in early stage talks to buy drug distributor AmerisourceBergen. The drugstore chain reached out weeks ago to acquire parts of Amerisource it doesn’t already own. If the deal goes through, it could boost profitability at Walgreens. (Wall Street Journal)
Ex-Celgene chairman and CEO Bob Hugin is running for the Senate. He told supporters on Monday that he’s planning to enter the Republican primary for the New Jersey seat held by Sen. Bob Menendez. Hugin once contributed $250,000 to a PAC supporting former New Jersey Governor Chris Christie. (CNBC)
