Sentences with phrase «raising drug prices»

In attacking Berkshire, Ackman was striking back after Buffett's business partner Charlie Munger last year called Valeant «deeply immoral» for its practice of raising drug prices, sparking a sort of long - distance feud over whose favorite stock was better.

Now Mylan appears to be learning the same hard lesson this week that Martin Shkreli and Valeant (vrx) learned last year: Investors love when pharmaceutical companies raise drug prices — until everybody else gets really upset about it.

Brian Henry, a spokesman for Express Scripts, the nation's largest pharmacy benefit manager, declined to comment on the lawsuit, but said, «Rebates don't raise drug prices, drug makers raise drug prices.»

Drug companies became a favorite villain during the presidential campaign when Democratic candidates Hillary Clinton and Bernie Sanders beat on «Pharma Bro» Martin Shkreli for raising a drug price 5,000 %.

William Bennett, director of the National Office of Drug Control Policy, hopes that interdiction will raise drug prices.

Not exact matches

He first gained notoriety back in September, after raising the price of a life - saving AIDS drug from $ 13.50 to $ 750 a pill.

And, as Barrett and Langreth write, drug makers often raise those list prices «to make up some of the lost revenue» from rebating.

Valeant has been at the center of a political firestorm over prescription medication costs and pharmaceutical companies, which depend more on acquiring or licensing existing therapies (and then raising their prices) rather than fueling R&D into new drugs.

«Valeant has been appropriately criticized for substantially raising the prices of certain off - patent prescription drugs suddenly and without apparent justification,» said Ackman in his opening statement.

They also said that they would lower the price of two heart medications, Nitropress and Isuprel, around 30 % (that's after raising the prices of the drugs 525 % and 212 %, respectively).

When I thought about the Shkreli situation and the Valeant situation where you have folks who, in the instance of Shkreli and Turing, buy a drug that's been sold for 60 years at the price range of $ 13.50, then overnight to raise it to $ 750 per pill — and we're talking about life - saving drugs — that really concerned me.

For example, Pfizer raised the prices on more than 100 drugs in 2016.

And after announcing a «social contract» to keep drug price hikes below 10 percent a year, his company raised a slew of prices by 9.5 percent.

The other thing that concerns me is when other drug companies like Pfizer, the ones that you may have in mind, are about to raise prices.

Mylan came under fire in August when it raised the price of the EpiPen, a lifesaving allergy drug, to $ 608 for a two - pack.

Turing Pharmaceuticals, which raised the price of a drug 5,500 % practically overnight says it will now lower its price following an intense backlash from the media, medical profession and the general public.

In 2011 he started a pharma called Retrophin, which repeatedly raised the prices of old drugs.

And despite the fact that Mylan raised EpiPen prices roughly 30 % in 2015 while prescription volume also grew 7 %, the company's revenue on the drug actually fell slightly, as the other players took even bigger cuts, according to Raffat.

In his statement, Shkreli insinuated that the charges levied by the FBI are linked to his decision in September to raise the price of antimalarial drug Daraprim by 5,500 percent.

U.S. drugmaker Turing Pharmaceuticals, led at the time by hedge fund manager Martin Shkreli, caused outrage last year by raising the U.S. price of Daraprim, an old anti-infective drug, by more than 5,000 % to $ 750 a pill.

Amphastar became yet another drug price - hiking villain facing intense public scrutiny when it raised the price of naloxone, an opioid overdose antidote, by more than 100 %.

Valeant Pharmaceuticals, which dramatically raised the price of two lifesaving heart drugs, caught the ire of Hillary Clinton during the presidential campaign.

In January, Mallinckrodt raised its price to $ 36,382 a vial, according to the data provider Truven, but that wasn't far off what it cost back in 2015 when Medicare Part D, a prescription drug program, spent over $ 500 million on the drug, making it one of the top 20 expenses for the program, government data shows.

After all, as Regeneron CEO Len Schleifer pointed out, pricing a drug to its value would suggest that its price shouldn't have to be raised year after year, even if it's by the single digits.

«Promising to raise prices no more than 10 % and then raising them 9.9 % is not the answer,» Regeneron CEO Len Schleifer during his JPM presentation, adding that Regeneron does not raise the prices on its drugs.

After years of buying up companies then raising the prices of their drugs — a strategy that rapidly amplified Valeant's revenue and stock price — Valeant is now struggling to grow by other means, while dealing with the consequences of its previous actions.

And it's already in the hot seat over its drug price hikes, so it can't raise prices much further without risking another scandal.

The price of insulin — a lifesaving drug — has reached record highs as Eli Lilly, Novo Nordisk and Sanofi raised prices more than 240 percent over the past decade to often over $ 300 a vial today, with price rises frequently in lockstep, according to information technology firm Connecture.

Valeant became the face of high American drug prices when it acquired Isuprel and Nitropress last year and immediately raised their prices by 525 percent and 212 percent.

Even before media reports and a congressional hearing vilified Valeant Pharmaceuticals International for raising prices on a pair of lifesaving heart drugs, Dr. Umesh Khot knew something was very wrong.

Investors have, on balance, concluded that the combination of a shift to very expansionary fiscal policy and major reductions in regulation in sectors ranging from energy to finance to drug pricing will raise demand and reflate the American economy.

The lawsuit filed Monday claimed that the three companies intentionally raised the list prices on their drugs to gain favorable treatment from pharmacy benefit managers, who work with health insurers and drug makers and help decide how a drug will be covered on a list of approved drugs.

At Turing, he bought a decades - old anti-infective drug and in August raised the price to $ 750 a pill from $ 13.50, which led the BBC to ask if he was the «most hated man in America.»

The lawsuit claims that rather than competing with one another to offer a lower, «real» price to the insurers, the drug makers are vying to offer the best payment to the pharmacy benefit manager, which is why they have been raising the list price.

Turing Pharmaceuticals of New York bought the drug from Impax Laboratories in August for $ 55 million and raised the price.

The cost of the drug was raised from $ 13.50 to $ 750 overnight, and Shkreli promised to lower the price following the public backlash.

Martin Shkreli is the founder and chief executive of Turing Pharmaceuticals, which raised the price of the drug Daraprim to $ 750 a tablet from $ 13.50.

In response to the outrage over what appears to be blatant price gouging on the part of Turing Pharmaceuticals, the company's founder and CEO Martin Shkreli has announced that Turing will be lowering the price of the drug Daraprim after raising it from $ 13.50 to $ 750 per tablet overnight.

Turing Pharmaceuticals CEO Martin Shkreli is now stating that he wishes he'd raised the price on the AIDS drug Daraprim by more than the 5000 % that made him the object of scorn worldwide.

In just the past 14 months, drug companies raised the prices of 20 prescription drugs by 200 percent.

But what Sequoia married itself to was an offshore drug company that borrowed heavily to buy other drug companies, cut costs and research, then raised prices on many older drugs to astronomical heights.

Prolonged a preferred of traders, biotech shares have stumbled amid considerations that political force will finish steep drug price raises.

Within weeks of the deal, Valeant went from investor idol to pariah as its business model of buying older drugs and raising the prices attracted international scorn.

Turing Pharmaceuticals AG, the drugmaker that raised the price of an anti-infective drug Daraprim by more than 5,000 percent, suggested that it won't cut the drug's list price, instead offering to negotiate discounts with hospitals.

Scandals can pertain to large - scale corporate conduct involving the cooperation of many people (such as the Volkswagen emissions - falsification scandal), to an individual corporate decision (as when Turing Pharmaceuticals raised the price of one of its drugs from $ 13.50 to $ 750 per pill), or to illicit behaviour by an individual (such as a corporation's CEO).

The drug Daraprim gained international attention when a 32 - year - old pharmaceutical CEO purchased its rights, and raised its price more than 5,000 % to $ 750 per pill.

The «war on drugs» is counterproductive, since it raises the price of the drugs, makes drug trafficking more profitable, and thus encourages dealers to try to sell more.

The so - called «Pharma Bro,» notorious for raising the price of a potentially life - saving drug by 5,000 percent, was found guilty today of defrauding investors in two hedge funds and in Retrophin Inc., a pharmaceutical company he co-founded.

Now, the pharmacy can raise price really high and the drugs get bought anyway.

This week, the Federal Trade Commission raised opposition to the proposed law saying it may limit competition and drive drug prices up.