Activist shareholders are opposing Bristol-Myers Squibb’s proposed $74 billion purchase of Celgene. The shareholders, Wellington Management and Starboard Value, contend the acquisition wouldn’t further BMS’ business goals and are urging the company to drop the acquisition. (CNBC)
Sen. Bernie Sanders (I-VT) is continuing to hammer Catalyst Pharmaceuticals over Firdapse’s price. Sanders has urged the FDA to allow other manufacturers and pharmacies to sell older versions of Catalyst’s rare disease treatment, which costs $375,000 a year. (Reuters)
The FDA is planning to hold the first public hearings on legalizing CBD foods in April. Commissioner Scott Gottlieb said the agency put together a working group on the issue and will begin rulemaking with the April hearings. Companies are technically prohibited from adding CBD to foods, but many are doing it anyway. (CNBC)
Gottlieb also pledged that drug and device reviews will be on time post-shutdown. Despite the 35-day shutdown, during which the FDA could not accept applications or user fees, the agency is planning to adhere to the timelines in user-fee agreements. (BioPharma Dive)
Mylan Q4 earnings missed expectations, sending its stock down 17% on Thursday. In Q4, the company reported $51.2 million in earnings. Its full-year revenue for 2018 dropped to $3.08 billion from $3.24 billion in 2017. (Market Watch)
