Nostrum Pharmaceuticals CEO Nirmal Mulye is now blaming FDA inefficiencies for a huge price hike. Previously, he said that he had a moral requirement to sell the antibiotic nitrofurantoin at the highest level after raising its price tag by 400%. Mulye said his company has lost money eight out of 11 years spent manufacturing generic drugs due to industry fees and regulations. (CNBC)

Health and Human Services Secretary Alex Azar said President Donald Trump plans to “empower” PBMs in his plan to reduce the price of drugs. Azar also discussed biosimilars and his goal of enabling pharmacists to substitute these for higher-priced drugs. (Bloomberg)

Boehringer Ingelheim has acquired biotech company ViraTherapeutics for $244 million. ViraTherapeutics focuses on oncolytic viruses. Boehringer Ingelheim plans to build a pipeline of combination approaches. (Endpoints)

Scientists at the University of Washington have researched 2,000 BRCA1 gene mutations, determining which are pathogenic and which are benign. The findings could assist physicians in advising women about next steps if they have the BRCA1 gene. (STAT)

Apple rolled out Apple Watch Series 4 on Wednesday with new health features developed with assistance from the FDA. The watch can take an electrocardiogram to measure the heart’s rhythm, detect a fall, and call for emergency help. (Reuters)