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Gilead Put Profit Ahead of Hepatitis C Patients: U.S. Senate Report Says

The Senate Finance Committee has determined that the prices charged by Gilead for the Hepatitis C drugs, Sovaldi and Harvoni, do not reflect the actual research or cost incurred in producing the drugs and is officially accusing Gilead of placing profits ahead of affordability and accessibility. In 2014, Medicare and Medicaid spent more than $5 billion on Sovaldi and Harvoni. Gilead released a statement saying that with available rebates and discounts the cost is actually less expensive than that of prior treatments, and, additionally, the improved efficacy of their drugs reduce the cost of future medical complications.

To read the full Reuters article click here.

Pfizer to Buy Allergan in $160 Billion Deal

Pfizer’s announcement that it will buy Allergen (the producer of Botox) will shift the manufacturer’s headquarters to Ireland and help reduce their incurred domestic taxes by an estimated 8%. The deal will make Pfizer the largest company in the industry, as well as mark the largest instance of an international acquisition to lower a U.S.-based company’s taxes – and has earned direct criticism from President Obama, Hillary Clinton, Bernie Sanders, and Donald Trump. Both companies saw a drop in their stock prices after the announcement.

Read Reuter's article on it here.

Statins May Dampen Protective Powers of Flu Vaccines

Two new studies highlight a potential relationship between statin use and flu vaccine effectiveness in seniors; however, experts warn that studies are preliminary and the benefits of both medications outweigh any negative interactions. The findings, however, add to the list of questionable side effects of the popular cholesterol-lowering drugs, associating statin use with muscle pain, liver damage and memory loss. One study found that vaccine-recipients taking statins had 38-67% fewer flu antibodies than those not taking statins (with natural statins appearing to be less detrimental than synthetic.)  The second study more specifically identified an inflammatory interaction between statins (thought to improve cardiac health by reducing inflammation) and the vaccine (priming the body to avoid the flu through increased inflammation.) Alternatively, the reduced inflammation of statins may help fight the flu once it is infected.  These findings indicate that additional research will be needed before conclusive results can be published.

Read the article here: consumer.healthday.com

Protein Sciences Reports Flublok Vaccine Now Available Nationwide

Flublok will now be available for walk-in vaccinations at Target, Mariano’s, Roundy’s, and Brookshire’s nationwide; with the suggestion that patients call ahead to confirm availability at other pharmacies. Flublok is the only vaccine on the market that is free of formaldehyde, antibiotics, gluten, gelatin, egg protein, latex, thimerosal and other preservatives. Further, Flublok resulted in nearly 50% fewer influenza cases in older adults than an alternative egg-based influenza vaccine.

For more information, read the full news release here: www.drugstorenews.com.

DrugGoes From $13.50 a Tablet to $750, Overnight (www.nytimes.com)

Daraprim, a 62-year-old drug used to treat the life-threatening parasitic infection, toxoplasmosis, experienced a dramatic price hike after being acquired by the start up Turing Pharmaceuticals, run by former hedge fund manager Martin Shkreli. While Shkreli maintains that the cost hike will fund new research in treating toxoplasmosis and is now in line with the costs associated with treatment for other rare disease, physicians and members are not pushing for drug reformulation as the associated side effects of Daraprim can be easily managed. The price increase is in line with Shkreli’s developing reputation for questionable profit acquisition in the drug arena: in 2011, he started another company whose primary focus was acquiring old drugs and increasing their prices; prior to that, he worked to stall drug approvals made by companies whose stock he was short selling.

Shkreli is not alone in the business of, seemingly, questionable drug price hikes: this year alone, Cycloserine, a tuberculosis drug, and Isuprel and Nitropress, both heart drugs, experienced dramatic price increases after they were acquired by other drug companies. Even Daraprim’s price increased from $1 a tablet to $13.50 after it as acquired by CorePharma, prior to Turing’s acquisition this year.

Reuters.com: Kmart Pays $1.4 Million to Settle U.S. Charges Over Medicare Inducements

Kmart is accused of allowing Medicare beneficiaries to use manufacturer coupons to reduce pay and provide access to expensive brand medications instead of the preferred generic options, as well as offering gasoline discounts based on prescription volume. The practices violate the False Claims Act, which prohibits offering Medicare users benefits to influence pharmacy utilization, forcing the company to pay $1.4 million to the government to settle the suit.