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Fly News Breaks for May 19, 2017
VRX
May 19, 2017 | 12:32 EDT
After the U.S. Patent Office's Trials and Appeal Board ruled that patents related to Valeant's Apriso were unpatentable, Wells Fargo analyst David Maris said the decision may allow generic competition to the ulcerative colitis drug a "dozen years" earlier than Valeant anticipated. Valeant's 2016 10-K does not list Apriso as one of products the company sees facing generic competition between 2017 and 2021, noted Maris, who adds that it is possible that Valeant appeals the PTAB decision. Maris keeps an Underperform rating on Valeant shares.
News For VRX From the Last 2 Days
VRX
Jun 21, 2017 | 12:12 EDT
A draft of an executive order on drug pricing appears to focus on easing regulatory hurdles for the industry, the New York Times reported Tuesday, citing a copy of the draft. The proposals "identify" certain issues that have recently drawn public criticism, including high out of pocket costs, but "largely leaves the drug industry unscathed," the report said. The draft even includes several ideas that have previously been pushed by the drug industry itself, such as boosting their overseas monopoly power and dialing back a program mandating discounts for hospitals serving low-income patients, the report said. "This is a far cry from what [President Trump] said on the campaign trail. I don't see anything there that addresses the drug companies getting away with murder, and it appears that is because Pharma has captured the process," Patients for Affordable Drugs founder David Mitchell remarked to the publication. The iShares NASDAQ Biotech ETF (IBB) is up 3.28% in Wednesday's session. Potential stakeholders in drug price reform include Mylan (MYL), Mallinckrodt (MNK), Teva (TEVA), Perrigo (PRGO), Celgene (CELG), Bristol-Myers (BMY), Eli Lilly (LLY), AbbVie (ABBV), Amgen (AMGN), Valeant (VRX) and Allergan (AGN). Reference Link
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