What We're Reading: Drug Makers Sue to Block Prices in TV Ads; Opioid Settlement Proposal; Pfizer to Buy Array BioPharma
US Drug Makers Sue to Prevent Display of Drug Prices in TV Ads
US drug manufacturers sued Friday to block a federal regulation from taking effect that would require them to list drug prices in television advertisements, The New York Times
reported. HHS finalized the rule May 8, 2019; due to take effect in July, it represents one of the most high-profiile efforts by the Trump administration to lower prescription drug prices. Drug makers argued that list prices differ from patients' final costs, as list prices do not include rebates, discounts offered or patient assistance programs.
Proposal Could Settle All Opioid Lawsuits, Issue Nationwide Payout
Pending approval by US District Judge Dan Aaron Polster, a proposal made Friday in an Ohio federal court by lawyers for hundreds of local governments could pave the way for a nationwide settlement with opioid manufacturers, according to The New York Times
. The plan could expand the number of municipalities and counties eligible for compensation in federal litigation from 1650 to nearly 24,500. The proposal was suggested to provide a greater incentive for pharmaceutical companies tthat are defendants to comprehensively settle, as it would prevent future lawsuits from local governments.
Pfizer Agrees to Acquire Array BioPharma for $11.4 Billion
In an effort to expand its presence in cancer research, Pfizer has agreed to buy Array BioPharma for $11.4 billion, paying $48 per share, The Washington Post
reported. Last month, Array announced that its drugs Braftovi and Mektovi, along with another treatment, significantly improved overall survival in late-stage testing for some patients with colorectal cancer. Array planned to submit results to federal regulators later this year.