President Trump met with pharma executives in late January. Photo credit: Getty Images
1. Under the new tax bill, pharmaceutical companies operating overseas would be taxed at a 15.5% rate to return cash to the U.S. in a one-time event. The move could encourage more companies to invest overseas, some economists say. (CNBC)
2. Global sales for pharmaceutical and biotech companies increased 45%, to $775 billion, between 2006 and 2015, according to a new government report. More than 65% saw rising profits, with an average increase of 17% in 2015. (Stat)
3. Spark Therapeutics received FDA approval for its experimental gene therapy Luxturna, which treats patients with the rare retinal disease Leber congenital amaurosis. It is the first FDA-approved gene therapy targeting a disease caused by mutations in a specific gene. (CNBC)
4. The FDA accepted Samsung Bioepis’ Biologics License Application for SB3, a biosimilar of Roche’s blockbuster cancer drug Herceptin. If approved, it will be commercialized in the U.S. by Merck. (The Pharma Letter)
5. Two physician groups will pay more than $33 million for allegedly receiving illegal payments and consideration in exchange for patient referrals to hospitals. The groups are Envision Healthcare subsidiary EmCare and Physicians’ Alliance, which is part of Penn State Health. (Reuters)
