Morning Briefing
Summaries of health policy coverage from major news organizations
Teva Bid For Rival Spurs Anti-Competitive Concerns
A potential $40.1 billion generic-drug merger already has Brad Arthur bracing for a blow to his family-run pharmacy in Buffalo, New York. Arthur has been contending with rising generic drug prices for the better part of two years -- a trend that has drawn Washington鈥檚 attention and caused an outcry from consumer advocates. Now the pharmacist says he fears the proposed takeover of Mylan NV by Israel鈥檚 Teva Pharmaceutical Industries Ltd. could threaten businesses like his by reducing competition even further. (Koons, 4/21)
Teva Pharmaceutical Industries Ltd on Tuesday made an unsolicited $40 billion offer for smaller rival Mylan NV, a bold bid for growth as its lucrative Copaxone drug faces generic competition. The offer followed weeks of speculation that Israel-based Teva, the world's largest generic drugmaker, would soon target Mylan. Shares of Mylan traded below the offer price of $82 in cash and stock, evidence of investor skepticism that Teva can win over the company, which has set up a defense that includes a poison pill. (Cohen and Humer, 4/21)
Generic drug giant Teva formally offered to buy fellow drugmaker Mylan for about $40.1 billion in cash and stock on Tuesday, despite Mylan's cold shoulder and the certainty the proposed acquisition will bring intense scrutiny by antitrust regulators. If Israel-based Teva Pharmaceutical Industries Ltd. succeeded, the combination would dominate the global generic drug market, be a major contender in some other specialty drug categories 鈥 and have the leverage to try to raise generic drugs prices. (Johnson, 4/21)
Amgen Inc., the maker of cancer treatments and blood boosters to combat anemia, reported first-quarter profit that topped analysts鈥 estimates and raised its forecast for the year on stronger-than-expected drug sales. The shares rose in late trading. (Chen, 4/21)
Meanwhile, health insurer Humana acquires a company that sends nurse-practitioners for home visits.
Health insurer Humana has acquired Your Home Advantage, a Deerfield Beach, Fla.-based company that sends nurse practitioners and other providers to assess and care for patients in their homes. The company will become part of Humana At Home, Humana's home-based services division that was previously known as SeniorBridge Family Cos. Humana bought SeniorBridge in 2012. (Herman, 4/21)
And The Wall Street Journal looks at a ruling in one product-hopping case in advance of a decision on Alzheimers' drug Namenda -
Four years ago, Warner-Chilcott caused a stir by adding a line, or 鈥渟core,鈥 to its Doryx tablets that are prescribed for treating acne. The move gained notice because it was seen by some as another effort by a brand-name drug maker to thwart generic competition, since any generic rival would have had to take the same time-consuming production steps to win regulatory approval to sell a copycat version. (Silverman, 4/21)
Earlier related Kaiser Health News coverage:聽