Tecfidera is a multiple sclerosis drug marketed by Biogen.
1. Democratic lawmakers launched an investigation into the prices of multiple sclerosis drugs, the average prices of which have jumped from $16,000 in 2004 to $78,000 in 2016. They are requesting information from Bayer, Biogen, EMD Serono, Novartis, Roche, Sanofi, and Teva Pharmaceutical Industries. (Reuters)
2. Mylan will pay $465 million to resolve allegations that it overbilled Medicaid for its EpiPen allergy autoinjector. The government also revealed that Sanofi blew the whistle on Mylan’s practices. (Law360)
3. The FDA approved Pfizer’s Besponsa, a drug that treats patients with advanced acute lymphoblastic leukemia. The cost for nine weeks of treatment is $168,000. (AP)
4. AstraZeneca and Merck’s Lynparza can now be marketed as a treatment for patients with recurrent ovarian cancer who have already responded to platinum-based chemotherapy. This means it is likely to compete with Tesaro’s Zejula. (Reuters)
5. M&A activity for biotechnology firms is slowing. One analyst said that companies are waiting for clarity from President Trump on tax reform before moving forward with deals. (Bloomberg)